Chicago-based Oscar-maker to lay off 95 employees
Less than a month after announcing its acquisition by an Indianapolis-based company, the Northwest Side business most famous for producing the Academy Award Oscar statuettes is laying off nearly 100 employees.
According to a report filed with the state Dept. of Commerce & Economic Opportunity, R.S. Owens will be laying off 95 workers on Dec. 17.
That's also the date the acquisition of the 74-year-old company by St. Regis Crystal goes into effect. The DCEO report said the layoffs would be permanent.
A company representative was not immediately available for comment Wednesday afternoon.
When the acquisition was announced in November, the companies said they would continue to manufacture Owens' products at its Chicago location.
Besides the Oscars, Owens -- which called itself "the largest manufacturer of premier awards in the world" -- has produced awards for the Emmys, American Idol, the Cotton Bowl, Pepsi 500 race, and the Rock & Roll Hall of Fame.
"We take pride in our skilled union artisans and our commitment to American-made products," the company states on its website.
The DCEO report did not state if the layoffs were union positions, and said the cause of the layoffs was not provided by the company.
In November, when the firms announced the acquisition, the firms said decorating and fulfillment of catalog items will be done out of the St Regis' headquarters in Indianapolis. Plans also include introducing the R.S Owens line into Canada, through the St. Regis facility in Toronto.
Copyright 2012 Sun-Times Media, LLC
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