Paul Mueller lays off 44 more workers

Paul Mueller Co. is laying off 44 employees from its Springfield office staff, a week after announcing that 46 of its Springfield plant workers also would be let go.

The Springfield-based steel manufacturer said in a news release Thursday that order entry in 2009 is off significantly because of economic conditions, including a recent drop in milk prices.

Paul Mueller Executive Vice President and Chief Financial Officer Donald Golik confirmed the 44 layoffs are at the Springfield headquarters but deferred further comment to Director of Human Resources Mike Young, who was not available.

"In the coming period, we will evaluate our personnel requirements in light of new business developments," company officials said in the release.

Paul Mueller also announced a 60-cents-per-share quarterly dividend Thursday. It is payable March 13 to shareholders of record on Feb. 23.

"Management is focused on maintaining profitability and cash flow," the release said, noting that the dividend is being paid with 2008 profit. "However, conditions may necessitate temporarily reducing or eliminating the dividend in the future."[[In-content Ad]]