Munro & Co. officials announced Thursday that more than half the employees at its Lake Catherine Footwear facility will be permanently laid off over the next several months.
Bruce Munro, chief executive officer of Munro & Co., a shoe manufacturer and importer with headquarters in Hot Springs, said in a news release that about 56 employees will lose their jobs. The first round of layoffs is expected to take place no sooner than June 16, followed by a second round in July.
By September, Lake Catherine Footwear will employ about 30 people, and an estimated 11 jobs will be transferred to the company’s Clarksville operation.
At one point in the late 1990s the company distributed more than 4 million shoes worldwide from seven plants.
“Economic forces in the international shoe industry have forced us to move some components of our operations to the Dominican Republic to remain competitive,” Munro said in the release.
The principal brand of Munro & Co. is the Munro American brand of women’s footwear, which is available in department stores and specialty boutiques nationwide.
“We are one of the very few remaining domestic shoe manufacturers in America and we are committed to maintaining as large a domestic presence as is competitively feasible - but that comes with a price,” Munro said.
By the end of the year, Munro & Co. will have 80 employees at its facilities in Hot Springs and more than 120 at its manufacturing plant in Clarksville.
Front Section, Pages 5 on 04/19/2014