FiberMark, a specialty manufacturer of paper grades, owned by Greenwich, CT based SilverPoint Capital, is negotiating with its labor base to cut wages and benefits. The union workers have been working without a contract since April 1.
We understand the company has proposed wage reductions of $5-6/hour. The range of salaries had been $15.75 to $20.55 might be cut to $10.80 to $19.30.
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