Thread regarding Ceco Environmental Corp. layoffs

As reported in the Cincinnati Business Courier today CECO fell into the loss waters for the second quarter, after sales tanked by more than 40%. CECO said the revenue decrease is a result of "the challenging economic environment." It reduced overhead during the quarter with wage freezes, delayed hiring, reduced work weeks, job cuts, furloughs for some employees, reduced manufacturing expenses, satellite plant closings and reduced travel, according to a news release."We have positioned ourselves very well for the anticipated economic recovery," said Phillip DeZwirek, chairman and CEO, in the release. "The investments made, as well as the operational rationalization have allowed the company to be ideally prepared for the anticipated pent-up demand for our products and services we believe will be realized with the economic recovery."