The community of Waverly received some shocking news Tuesday afternoon, after 75 years, Terex Cranes announced the immediate shutdown of the company. Employees were told the plant was closing and that they were out of a job, effective immediately. They were handed 60 day severance packages and made a mass exodus out of the plant. One hundred workers in total were let go. Another 75 union workers will be phased out in the coming weeks. Terex also has a global services center at the plant, That department will remain in place, employing about 100 employees.
The city of Waverly was not officially notified until after the firing of employees Tuesday afternoon.
In a statement released yesterday:
After 75 years the company has decided to go another direction. Terex will move its operation to Oklahoma City, Oklahoma in an attempt to better align their costs with market demands. The company also cited Oklahoma City’s central location and proximity to the Port of Houston as reasons the move made sense.