CHATTANOOGA, Tenn. (WDEF) — Yanfeng International released a WARN notice on the 29th announcing they were permanently laying off 155 workers at their Chattanooga Plant on Bonnyshire Drive, likely meaning the closure of the plant entirely.
Economists say this is a symptom of a broader shrinkage across industries.
Dr. Howard Wall, Director of the Center for Regional Economic Research at UTC tells us, “Our prospects over the recent past has been downgraded. We really haven’t been growing as we thought, we’ve been kind of been slowly shrinking our employment for about a year and a half, and I think it’s part of that and a big chunk of it is because the auto industry itself has not done well for the last two years.”…