Job cuts are hitting 40 workers in Owen Sound this spring.
Veyance Technologies is laying off nearly half of it’s workers because of the slowdown in economy.
Veyance used to be Goodyear, and the company produces automotive belts for cars, trucks and appliances.
Operations Manager James Howell tells Bayshore Broadcasting News, the cuts will leave 53 employees at the Owen Sound operation as of May 1st.
Negotiations with the United Steelworkers of America resulted in an enhanced severance package for workers.
Employees with between 2 to 14 years experience are being let-go.
They’ll get two thousand dollars for each year of service, with a minimum payout of eight thousand dollars.