Lincoln-based A.T. Cross Co., the maker of Cross
pens, will eliminate 300 jobs and move production to China over
the next three years to take advantage of lower labor costs, the
Associated Press reported.
The moves will save the company
$5 million and $7 million a year, AP said, citing A.T. Cross
Chief Financial Officer John Ruggieri.
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A.T. Cross made the announcement after it reported a third-quarter loss Wednesday. The company will keep its headquarters in Lincoln, where it has operated for more than 150 years, AP said.
Bloomberg News
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