Are you worried about losing your job?
Lane County got some bad news today. Hynix, one of the region’s largest employers, just announced that they will close their plant in Eugene and lay off 1,400 people. This surprise news will hit those employees hard — potentially forcing many of them out of Lane County to find jobs. But many more than 1,400 people will be hurt by the news. Tim Duy, an economist at the University of Oregon, told the Register-Guard that Hynix’s closure “will certainly resonate around the county.”
This is the biggest layoff in Lane County history. The Sony compact disc plant closed in 2003, laying off 277 people. And in 2001 Hynix temporarily laid off 600 employees, but brought them back six months later after the plant had been reorganized. There’s scant hope that Hynix will rehire this time.
While Oregon’s latest unemployment numbers (June) were only down one tenth of one percentage point from the previous month to 5.5 percent, construction, timber and manufacturing jobs still felt the impact of this slowing economy.
How is the slowdown impacting you? Are you a Hynix employee who received formal news today that the plant is closing? Do you know what you will do? If you live in Lane County, how do you feel this closure will impact you? Or are you totally separate from the Hynix closure, but really worried about the security of your own job?