[Oscars] Oscar® Manufacturer Laying Off Workers

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R.S. Owens & Co. Inc., known for manufacturing the Oscar and Emmy awards, plans to lay off 95 employees, according to the most recent report from the Illinois Department of Commerce and Economic Opportunity. The cause for the layoffs was not provided in the report.

Last month, Chicago-based R.S. Owens was acquired by St. Regis Crystal Inc. of Indianapolis. Terms of the transaction were not disclosed.

According to the state report, the company’s dismissals are effective Dec. 17, the same date St. Regis’ ownership takes effect. It is not clear whether the layoffs are permanent or a transitional procedure leading to the workers’ hiring by St. Regis. Neither company was immediately available for comment.

The 95 layoffs equal more than a third of R.S. Owens’ staff which numbers 251, according to Bloomberg.

In a statement about last month’s deal, R.S. Owens said it would continue to manufacture its products at their current location in Jefferson Park. This includes the Oscar statuettes for the Academy Awards and television’s Emmy awards as well as awards for the Rock & Roll Hall of Fame, Nascar Pepsi Max 400, the Cotton Bowl and hit TV show American Idol.

R.S. Owens’ decorating and fulfillment of catalog items will be done out of St. Regis’ facility in Indianapolis, the company said. The Northwest Side company also hopes to expand its line of awards into Canada by way of a St. Regis facility in Toronto. St. Regis makes etched and painted glass and crystal.

“The opportunity to combine St. Regis’ strengths with R.S. Owens’ creative design capabilities, U.S.-based manufacturing and reputation for exceptional quality will provide unprecedented growth opportunity,” said Scott Siegel, president of R.S. Owens, in a statement released after the acquisition.

Source: Crain’s Chicago Business

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