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Wabash National Corporation: Wabash National Announces Workforce Reductions at Their Lafayette Facility

^{Published on 2008-12-10 18:17:50 - Market Wire}
 

LAFAYETTE, IN--(Marketwire - December 10, 2008) - Wabash National Corporation (NYSE: [ WNC ]) today announced that its Lafayette manufacturing operations will commence an extended holiday shutdown for the period Dec. 22, 2008 through Jan. 5, 2009 at which time certain operations will be re-started. Current plans call for the return of all but 800 associates during the period Jan. 12 through Feb. 3, 2009, with the balance expected to return to their jobs during the second quarter.

"We continue to adjust staffing levels and costs throughout our business to match current demand levels so that we can successfully navigate one of the most challenging economic periods in our history," said Dick Giromini, president and chief executive officer for Wabash National. "While we have faired better than most in our industry as evidenced by our market share gains, the majority of current orders due for delivery in 2008 are nearing completion and we are entering the traditionally slow first quarter, impacted even more so this year as a result of the continued challenges in our economy."

"We are sensitive to the impact that this action has on our associates and we remain hopeful that all associates will be returned to their jobs by the late spring," added Mr. Giromini. "This is a very difficult time, but we are striving to make the right choices to counteract the cyclicality of our business."

In November, plant meetings were held with all associates to communicate the forecasted conditions. Follow up meetings are being held this week to update associates on the details of the current operations plan and how it would impact them specifically.

Community leaders and state officials have been contacted regarding the current conditions. Officials from the Indiana Department of Workforce Development have been on-site to provide assistance to affected associates.

About Wabash National

Headquartered in Lafayette, Ind., Wabash National® Corporation (NYSE: [ WNC ]) is one of the leading manufacturers of semi trailers in North America. Established in 1985, the company specializes in the design and production of dry freight vans, refrigerated vans, flatbed trailers, drop deck trailers, dump trailers, truck bodies and intermodal equipment. Its innovative core products are sold under the DuraPlate®, ArcticLite®, Eagle® and Benson™ brand names. The company operates two wholly-owned subsidiaries: Transcraft® Corporation, a manufacturer of flatbed, drop deck and dump trailers and truck bodies; and Wabash National Trailer Centers, trailer service centers and retail distributors of new and used trailers and aftermarket parts throughout the U.S.