LUBBOCK, TX - (KCBD) - Bad news could impact hundreds of Lubbock jobs at X-FAB.
The company reports that gross sales for 2008 were down 10 percent. Earnings before taxes plummeted from $39 million to $5 million. To make matters worse, the X-FAB C.E.O. says that sales revenue is forecast for a double-digit decrease. However, the C.E.O. also says the company has good equity.
There are 355 Lubbockites employed at X-FAB, according to the most recent major employer list from the City of Lubbock.