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Mount Vernon-based SABIC Innovative Plastics said yesterday it plans to lay off as many as 125 workers next month as part of a series of cost-cutting measures.
The measures include reducing executive salaries, freezing salaried employees’ pay and reducing the company’s 401(k) match.
The plant, which employs about 1,200 workers in the southern Indiana community, already laid off 86 workers in December.
SABIC said it is offering a retirement package to eligible employees in an effort to reduce the number of job cuts. The company supplies plastics to the automotive, construction and consumer-goods industries.
SABIC is part of Saudi Arabia-based Saudi Basic Industries Corp.
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