AUBURN, Maine — A company in Auburn that manufactures automobile trunk liners is laying off 152 employees, or half its work force. Formed Fiber Technologies said the decision was prompted by the sharp drop in car sales.
CEO Mark Bennett said Thursday that workers who remain on the job also face sacrifices. He said there will be no raises, 401(k) matches will be dropped and everyone will have to take a week off without pay each quarter.
Bennett said Formed Fiber Technologies is taking steps to ensure its survival so that laid-off workers can be called back when the economy picks up.