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Hello… Welcome to Employment Crossing News… I’m Evangeline Fabia. In order to endure an economic downturn and increasing costs of raw materials, PolyOne Corporation, announced plans to close eight of their production facilities and let go of 150 jobs. The polymer maker company said that in exchange for spending $31 million dollars in severance pay and asset write downs… in effect the changes will lead to pretax annual savings of $17 million dollars. The closures will take place at seven facilities in the United States and one in the United Kingdom. Chief Executive Officer Stephen Newlin said that declining demand in the housing and automotive industry contributed in their downgrading decision. PolyOne created polymer materials… including colorants, resins, and vinyl products. I’m Evangeline Fabia… thank you for watching Employment Crossing News. ###