Piper Shuts Down Plant for Two Weeks:...

Piper Shuts Down Plant for Two Weeks: Financially troubled Piper Aircraft Corp. said it laid off 675 workers indefinitely, or close to 10% of its work force, and shut down its Vero Beach, Fla., plant for two weeks. In addition, 550 employees at the facility will be placed on a four-day, 32-hour work week when the plant reopens March 12. No return date is known for the other 125 workers affected by the shutdown. Joe Ponte, director of marketing, said the layoffs are the result of a severe cash crunch and rapid expansion the past several years.