Factory fallout: Manufacturing plant closures from Ingersoll Rand, Novo Nordisk, Gates Corporation and more
With political winds changing and global markets tightening, manufacturers are making tough decisions—and workers are feeling the impact. In this roundup, we chronicle the closures and cutbacks reverberating throughout the manufacturing sector. As uncertainty becomes the new normal, we examine how businesses and workers alike are navigating a rapidly changing industrial landscape.
According to The Lexington Herald-Leader, car brake manufacturer Akebono Brake Corp. will permanently close its Elizabethtown, Kentucky, plant and lay off its remaining 450 employees by the end of 2024. The company attributed the closure to a decline in its U.S. business operations. In a recent quote, Plant Manager Chris Cooper said, “The workforce reduction/layoffs are the result of a decline in Akebono’s U.S. Business and are expected to be permanent.” The shutdown marks the end of the company’s 35-year presence in Hardin County.
The Patriot Ledger reports that Revvity, a Waltham-based biomanufacturer, will close its Boston facility and lay off 76 employees as part of a multi-year process beginning this November. The layoffs, which affect chemists, engineers, and material handlers, will continue through 2028 as the site is decommissioned. In a recent quote, HR Manager Denise Wolfe said, “This extended employment is necessary to oversee specific site decommissioning activities, including the management and disposal of radioactive materials in compliance with regulatory permitting requirements.” All terminations are expected to be permanent.
As reported by KSNT News, Gates Corporation will lay off 110 employees at its manufacturing plant in Iola, Kansas, due to the cessation of its HFM manufacturing operations. The layoffs will occur in two stages, with most separations on December 1, 2025, and the remainder by January 1, 2026. In a recent quote, the company stated, “This reduction will be primarily attributable to the complete cessation of HFM manufacturing operations at the site, though a few unrelated positions will be reduced as well. This action is intended to be permanent.”
WLPO News reports that Ingersoll Rand Industrial U.S. Inc., known locally as Gardner Denver, has filed a layoff notice impacting about 70 employees at its Princeton, Illinois facility. The layoffs are expected to begin in March 2026. The plant, which produces compressors, blowers, and vacuum pumps, filed the notice under the Illinois Worker Adjustment and Retraining Notification (WARN) Act.
Fierce Biotech reports that Novo Nordisk is ending its cell therapy research unit, resulting in the layoffs of nearly 250 employees as part of a larger restructuring initiative. The discontinued work includes programs for Type 1 diabetes, Parkinson’s disease, and chronic heart failure. In a recent quote, a Novo Nordisk spokesperson said, “We can confirm that we have decided to discontinue our cell therapy R&D efforts. We are in the process of identifying partners with the right capabilities and manufacturing capacity to further develop our innovations.” The move is part of a cost-saving plan under CEO Maziar Mike Doustdar aimed at reducing 9,000 jobs globally.