USG Corp (USG), the maker of wallboard panels and other building materials,
made an announcement after hours today that,
"as a result of continued adverse market conditions, the Registrant has initiated a program to further reduce its overhead and other costs. The program includes a salaried workforce reduction and other cost reductions that are targeted to reduce costs by an additional $22 million to $28 million annually, before charges for termination benefits."
As I've mentioned,
the company is not profitable enough to service its debt.
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