Apogee Ending Production at Michigan Plant, Laying Off 250 WorkersFebruary 12th, 2024 by Editor
Apogee Enterprises Inc. announced that it will eliminate certain products and service offerings, terminate jobs and simplify its brand portfolio. Officials say these actions, which it called Project Fortify, are intended to streamline business operations to position the company for profitable growth. According to Apogee, it will make the following changes to its Architectural Framing Systems (AFS) sector, including:
Officials add that Apogee will also change its Architectural Services and Corporate sectors. All of these actions are already in effect and will be completed in the third quarter of fiscal 2025.
The moves are expected to lead to annualized cost savings of $12 million to $14 million and reduce Apogee’s workforce by approximately 250 employees. It expects approximately 60% of the savings to be realized in fiscal 2025 and the remainder in fiscal 2026. It also expects that approximately 70% of the savings will be realized in the AFS segment, 20% in the Architectural Services segment, and 10% in the corporate segment.