ThyssenKrupp trimming its payroll

WALNUT — ThyssenKrupp Elevator will layoff 50 workers at its manufacturing plant in Walnut in Northeast Mississippi.

Officials tell The Daily Corinthian that the layoffs will take effect in early April. Workers were notified the week of March 8-12.

ThyssenKrupp officials say the current downturn in major construction and renovation projects has reduced demand for his company’s products and services.

They say the market for new elevator equipment is about one-third of what it was three years ago.

ThyssenKrupp Elevator is the largest producer of elevator equipment in North America. It employees almost 14,000 people with annual sales of about $2.8 billion.