Officials at ThyssenKrupp Crankshaft Company in Danville is letting 48 employees go. The Danville Forging and Machining operations reports the downturn in the heavy equipment market has forced an adjustment in production capacity.
Workers were notified of the lay-off a week ago. Final discussions with workers was completed Thursday. The company says workers affected will be covered by a severance package and benefits.
The lay-off has an impact on about one-tenth of the ThyssenKrupp employees in Danville. There's approximately 500 employees at the Danville plant.