Tenneco, one of Northeast Arkansas’ largest manufacturers, will be closing its facility in Paragould after 50 years. The company cited a loss of market share and tightening global economic conditions as reasons for the closure. The Paragould Chamber of Commerce reported that the facility had 1,100 employees. Layoffs will be staggered in three phases with the first starting around Mar. 31. The company stated that they will provide transition assistance for affected employees. Tenneco mentioned that the decision to close the facility was difficult, but necessary to realign its manufacturing footprint to respond to changing market conditions and ensure long-term sustainability. Tenneco, based in Chicago, produces auto parts such as shock absorbers and struts.
The closure of Tenneco’s Paragould facility will have significant economic implications for the region, affecting not only the workers at the plant but also the local supply chain and businesses that rely on Tenneco as a customer. The Paragould community will have to grapple with the loss of jobs and the impact on the local economy. The closure serves as a reminder of the challenges faced by manufacturers in the current economic climate and highlights the need for companies to adapt to changing market conditions in order to remain competitive.
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