Plexus, a Wisconsin-based contract manufacturer, has notified Oregon officials that it will close its Gresham factory and lay off all 75 workers there by mid-October. Plexus provides manufacturing and other services to various industries including electronics, aerospace, and life sciences. The company said it plans to start laying off employees beginning as early as June 28 and discharge the last of its Gresham workers in the fall.
The company did not explain why it is closing the Gresham site and did not immediately respond to a call seeking additional information. In a January conference call with investment analysts, Plexus CEO Todd Kelsey said Plexus expects to miss its target of producing $5 billion in annual revenue by 2025. As a result, he said Plexus would be “rightsizing in areas where we have excess capacity, which includes personnel reductions.”
Oregon’s unemployment rate was 4.2% in March, up from 3.4% a year ago but still low by historical standards. Several Oregon employers have announced layoffs this spring. The biggest is Intel, which reported Friday that it plans to close a plant near Beaverton as it restructures operations amid falling sales.
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