NEW LOCAL: Channellock seeking 20 to 25 voluntary layoffs

July 02, 2009 05:05 pm

— Voluntary layoffs are planned at Channellock Inc., the Meadville-based maker of pliers and hand tools, starting July 13.
Channellock has been on a four-day work week since Feb. 9 in an effort to avoid layoffs of its 405 employees because of backlog of inventory and slower demand for its products.
However, the company now is looking to have 20 to 25 of its employees take a voluntary layoff for up to three months because of inventory levels and demand still not picking up, according to company officials.