Oneida Ltd, manufacture of crystal, dinnerware, flatware and metal serveware for the domestic and catering markets recently announced that it will close its remaining factory in New York state early in 2005, ending all its manufacturing of flatware because of high operating costs. The decision will lead to the loss of 500 jobs. Oneida said the high operating costs of its factory in Sherrill, caused substantial losses. Oneida plans to continue marketing the products affected by the closure by switching to independent suppliers. "For the long-term viability of our company, closing the factory dramatically lowers our costs," CE Peter Kallet said. About 400 jobs will remain in the Oneida area following the closure, mainly at its corporate HQ and warehouse/distribution centres. The firm employs around 1,200 people worldwide. Q2 net loss (2004) was $48.4M
