Globe Manufacturing announces layoffs

FALL RIVER — Globe Manufacturing Corp. announced that it would lay off 40 employees, about 40 percent of its workforce in this city. The layoffs will involve both manufacturing and administrative positions. The spandex manufacturer announced that the dry spinning and reaction spinning operations would be consolidated with the company’s North Carolina plant. A company executive had told the Providence Journal in December that Globe’s financial problems would not affect its employees. Despite that assertion the company attributed the layoffs to increased global competition, pressure to reduce costs and increase productivity and a recent move by its creditors that forced Globe Manufacturing into Chapter 11 bankruptcy protection.