Cheyenne Losing 112 Jobs Due To Depressed Housing Market
Wyoming's capitol city is losing 112 jobs due to the poor housing market. The demand for home windows and doors is decreasing and has left one business in Cheyenne facing the harsh reality of having to call it quits. Jeld-Wen will be closing their Cheyenne plant within the next two months. The closure means the elimination of 112 jobs.
The depressed housing market has been an issue for several years now and things don't seem to be improving. Jeld-Wen, and Oregon-based company released a statement saying demand for windows and doors has dropped because fewer houses are being built because of the depressed housing market. Employees at the Cheyenne plant heard of the closure last Thursday, October 20th. They are encouraged to apply for other positions at other plants owned by the company.
Earlier this month, Onex, a Toronto private equity firm, took over Jeld-Wen making an $871 million investment in the company. Prior to the take over the company was controlled by the Wendt family. Jeld-Wen still has approximately 20,000 employees across 22 countries.