Grede Announces Layoffs in Radford

Radford, VA - Officials say 250 people are losing their jobs in Radford. Grede plans to stop production at its foundry there by the end of the year.

Officials say some of the 250 workers, about 28 on salary, will be able to apply for jobs at other company facilities.

The company says a slow economy is part of the reason for the decision.

A furnace fire there last year was also a factor.

Grede produces steel parts for the automotive industry.