Libbey said it has reached consensual, ratified agreements with the United Steelworkers (USW) and the International Association of Machinists & Aerospace Workers (IAM) regarding modifications to their collective bargaining agreements and union-related retiree health and welfare benefits.
Libbey Inc. has gained bankruptcy court approval for its “first day” motions related to its voluntary Chapter 11 petitions for reorganization filed on June 1, 2020.
Libbey has temporarily halted production at its Toledo, OH, and Shreveport, LA, manufacturing facilities for a minimum of two weeks beginning March 23. Company officials stated the changes are in response to the continued spread of COVID-19 and uncertainty regarding the potential impact on the company’s business demand.
Libbey Inc. has appointed Juan Amezquita as the company’s svp/chief financial officer and treasurer, effective January 13, 2020. He succeeds James Burmeister, who has served as Libbey’s CFO since March 2017. Burmeister will remain at the company as svp/chief operating officer.
Libbey is kicking off a corporate organizational realignment plan that company officials said is designed to drive improved performance and growth. It said the plan is expected to reduce annual pre-tax run-rate costs by approximately $9 million to $11 million.