SPS Technologies fire: Massive layoffs reportedly planned as Montco officials push for rebuild

After the devastating fire that burned through the SPS building in Montgomery County, the company is reportedly going to be laying off 250 employees and the county says they want to do everything in their power to stop that from happening.

What we know:

About one month ago, a massive fire destroyed the SPS Technologies building. County officials called it the worst fire in their known history.

Montgomery County Chair Neil Makhija explained, "It’s devastating for people who have worked here, in many cases, for decades. This company has been here for 120 years in the community."

He continued, "I am here today because, unfortunately, SPS has sent letters to approximately 250 employees, one half of the workers, letting them know that they will be laid off."

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What they're saying:

SPS reportedly intends to conduct a massive layoff, something the county says could be devastating to the local community.

"The residents of Jenkintown, Abington, Cheltenham care deeply about seeing these jobs remain in the community and that their families have the chance to remain and be provided for," Makhija said. "An unplanned event where you are immediately out of work, it’s much harder to pivot, especially after working here for decade."

Chairman Makhija is now asking Warren Buffett for help, "This company is owned by Berkshire Hathaway, which is, right now, actually one of the only companies in the stock market that is going up, so they have more value than ever and we hope they will invest that right here, in Montgomery County."

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Local perspective:

Local businesses agree that long-term, without hundreds of local patrons, could be damaging and residents think so, as well.

Debbi Hopkins said, "Those people use some of the establishments around the area, so it will affect it to some degree."

What's next:

That is why the county says they are willing to do whatever they can to help. Chairman Makhija added, "If they want to make the decision to stay here, I am confident we can find a way to make that happen."

The county has their eye on multiple sites that could be suitable for a rebuild. They also say workers have reached out to them already, so a job fair is being planned.

Montgomery CountyBusinessNews