CHARLOTTE — JELD-WEN, a Charlotte-based door and window manufacturer, announced it will lay off 850 employees across its North American operations following a $378 million net operating loss in its third-quarter earnings report.
The layoffs represent an 11% reduction in JELD-WEN’s North American and corporate workforce.
The company employs about 16,000 people across North America and Europe, and it is unclear where or when these job cuts will occur, according to the Charlotte Observer.
In a news release, CEO William Christensen stated that the company is facing ‘persistent market headwinds and price-cost pressures,’ which have contributed to the financial losses.
This is the second round of layoffs for JELD-WEN this year. In March, the company closed a factory in Iowa, resulting in 298 job losses.
Last year, the manufacturer also made significant cuts, including the closure of two manufacturing plants in California and Wisconsin, impacting 450 jobs.
JELD-WEN’s third-quarter report highlighted a 13.4% decrease in net revenues compared to the previous year, with North American operations experiencing a 19.4% decline.
The company also faces a $45 million annualized impact from tariffs, with $17 million expected to affect this year’s results.
The company announced a ‘strategic review’ of its European business, though details of this review remain unclear. JELD-WEN’s European operations saw a slight increase in net revenues, contrasting with the losses in North America.
The layoffs and financial challenges at JELD-WEN reflect broader issues in the market, including inflation and decreased demand in the construction sector.
The company’s strategic review of its European operations may indicate further changes ahead.
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