Despite tariffs being imposed, manufacturers continue moving manufacturing to Mexico.
CHICAGO -- A storage safe manufacturer is closing two Chicago-area factories and moving operations to Mexico to counteract the effects of metal tariffs imposed by President Donald Trump's administration.
The Chicago Tribune reports Stack-On Products will lay off about 150 people at its Wauconda and McHenry plants when they close Oct. 12.
Human resources director Al Fletcher said Tuesday the decision to relocate operations to Juarez, Mexico, was made about two months ago. That's when Trump announced tariffs on numerous goods and materials from China as well as other countries.
Stack-On makes products ranging from tool boxes to gun vaults.
Fletcher says the company has a plant in China and another in Mexico, and its only U.S. factories were the two in the Chicago area.
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Having spent many years at KPMG as a partner and finally as Head of Corporate Finance, Midlands, Richard Boot currently chairs and holds directorship of various companies associated with staffing and recruitment. He is also a former board member of IRC Global Executive Search Partners.
IRC Global Executive Search Partners convened affiliates and business partners at three regional summits covering Asia Pacific (APAC), Europe, the Middle East and Africa (EMEA) and the Americas in early 2019 to spark an intercontinental discussion about leadership and organizational preparedness in an era characterized by accelerating technological change and disruption.