Chicago (WLS) — Morton Salt announced it is cutting 120 employees from its Chicago headquarters.
The layoffs follow the recent purchase of the 173-year-old company by a California investment firm.
In a statement Morton Salt declared the decision was built after a “comprehensive evaluation of our company’s long-term financial outsee and our ability to become more competitive in the salt indusattempt.”
“Impacted employees will receive severance or separation benefits, continued medical coverage and outplacement services to assist in finding new employment,” the statement went on to declare.
The Chicago Tribune reports the downsizing follows Morton Salt’s $3.2 billion sale in April to Stone Canyon Industries.
Recognized for its iconic Morton Salt girl, company creates salt for culinary, water softening and road de-icing.
Read: Morton Salt’s full statement:
“We can confirm that Morton Salt built the difficult decision to reduce its corporate workforce by 120 employees in our Chicago offices. This was not a decision we took lightly, but after a comprehensive evaluation of our company’s long-term financial outsee and our ability to become more competitive in the salt indusattempt, this reduction was necessary to support meet our business goals. Impacted employees will receive severance or separation benefits, continued medical coverage and outplacement services to assist in finding new employment. We thank our employees for their service and wish them the best in their new concludeeavors.”
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