Noranda lays off 35 employees

NEW MADRID, Mo. -- Noranda Aluminum officials confirmed that 35 people were laid off at its New Madrid facility effective Nov. 1. Those terminated were chosen by seniority.

Keith Gregston, president and general manager of Noranda, said the price of aluminum has dropped from $1.50 over the summer to 90 cents.

"This is one of those things we don't like to do," he said. "But our goal is to maintain a sustainable business and support our coworkers, communities, customers, suppliers and investors."

Gregston said he was unsure whether more cuts will come in the future. "Everything in under review," he said.

According to its website, Noranda's New Madrid operations directly employs 1,100 people with an annual payroll of about $60 million. The primary products plant there, which produces metal, was formed in 1968.