Andersen Windows announced today that they will be laying off 250 employees out of a total workforce of 9,000. That’s less than 3%. The bigger issue is that they see no signs of improvement in the housing economy.
Andersen Windows is a premium window and door manufacturer so perhaps they are being hit as people move down in price and quality in order to save a few bucks. But that said, the industry overall continues its downward slope. According to this Star Tribune article, they quote the following, “Window shipments have fallen sharply since 2005 and are expected to fall about 9 percent this year, according to the Window and Door Manufacturers Association. Lower sales for new construction and remodeling are causing the declines.”
It continues to look like there will not be a housing turnaround until 2013 at the earliest.