Heather Moore
(831) 336-4014
For Immediate Release

Economic Downturn Means Change at ABC

SMALLTOWN (Oct 12, 1998) -- As a result of this year's turbulent economic market, the ABC Corporation is being forced to make a number of difficult cutbacks, according to Jetta Moon, ABC Corp. spokesperson. In order to compensate for this economic upset, ABC Corp. has been forced to close down the Smalltown plant, effective next month.

ABC Corp. has established a number of services in order to ease employees' transition, the most important being a job placement program at the Healthy Choice factory in nearby Bigville. ''Healthy Choice is a strong newcomer to the frozen food industry,'' said Moon, ''and after talking with them, we have secured jobs for up to 750 ABC employees at Healthy Choice, starting November 15.'' Healthy Choice's production lines are virtually identical to ABC's, Moon said, which means little training will be necessary, making the switch smooth and fast.

For those not able to make the twenty-minute commute to Bigville, ABC has established a comprehensive severance package. In addition to a year's extension on health care plans, ABC will provide up to $2,500 in educational vouchers, offer early retirement packages with 401k bonuses and nine months of job re-training/career services assistance.

ABC is also attempting to locate another company to take over the Smalltown factory/property. ''We're hoping to find a new owner to give the place a new lease on life and, hopefully,'' said Jane Nyberg, CEO of ABC Corp., ''employ any willing and qualified ABC employees.''

Although ABC is leaving Smalltown, it is shifting production to their larger, more modern Southville facility. ''Given the current economic situation, ABC needs to centralize production in Southville in order to stay competitive and economically viable,'' Nyberg said.

ABC Corp., with over twenty years of experience, is a major player in the packaged and frozen food industry. ''We've made our marks not only by being the best for our customers, but by being the best for our employees,'' said Moon. ''We'll continue to be there for them, as best as we can.''