Caesarstone Cuts Workforce by 7%
MP MENASHE, Israel – Caesarstone Ltd. will cut its global employment by 7% as part of a new plan to spur growth and find new efficiencies.
The Israeli manufacturer of quartz surfaces will also halve the production of its U.S. plant in Richmond Hill, Ga., while increasing its U.S. salesforce.
The moves – part of the company’s Global Growth Acceleration Plan – came as the company announced a net loss of $405,000 on revenues of $128.1 million in this year’s first quarter.
Company CEO Yuval Dagim said that headcount would decline by approximately 110 employees in all business units. The U.S. workforce will take the biggest hit.
Tariffs Sought on India, Turkey Quartz
WASHINGTON -- Cambria Company LLC filed a petition on May 8 with the U.S. International Trade Commission (USITC) on quartz-slab shipments from India and Turkey, citing antidumping and countervailing (subsidized) actions
Cambria’s new petition followed along the lines of its previous filing last April against quartz-slab imports from China.
In 2018, India and Turkey showed the largest percentage gains in U.S. quartz-slab shipments from the previous year among leading suppliers, according to USITC data and Stone Update analysis.
The petition brought a quick reaction from manufacturers and exporters in the two countries, as well as importers in the United States.