TransAxle, headquartered in Cinnaminson, N.J., will close its doors after 46 years in business. More than 200 workers will be laid off, the company says.
The company offers transmissions, axles, hydraulics and more for on- and off-highway applications. It also remanufactures drivetrain components for light- and heavy-duty vehicles.
"As you may know based on prior communications with our employees, TransAxle LLC ... has been engaged in efforts to sell the business for some time," Richard Malagodi, the company's chief restructuring officer wrote in a letter to Connecticut officials. "Despite our efforts we have not been able to consummate a sale at this time. As a result, the company finds itself in the difficult position of having to conduct an orderly wind down of the business."
Employees at all locations will be terminated in July and August. The locations and number of employees are:
- Charlotte, N.C., three employees.
- Killingly, Conn., four employees.
- New Windsor, N.Y., five employees.
- Zelienople, Penn., nine employees.
- Garner, N.C., nine employees.
- Richmond, Va., four employees.
- Springfield, Va., six employees.
- St. Paul, Minn., six employees.
- Westbrook, Maine, 18 employees.
- Knoxville, Tenn., one employee.
- Forest Park, Ga., five employees.
- Baltimore, Md., 10 employees.
- Pennsauken, N.J., locations, 29 employees.
- Cinnaminson, N.J., 91 employees.
- Hackensack, N.J., nine employees.
At least one law firm is investigating whether TransAxle failed to provide 60 days' notice before laying off 129 employees, a violation of the Worker Adjustment and Retraining Notification Act (WARN Act). If a lawsuit is successful, affected employees could be entitled to severance pay and benefits.
