NJ Company To Lay Off Hundreds Amid Shut Down

CINNAMINSON, NJ — A company headquartered in Cinnaminson is laying off more than 200 employees, including 91 people who work in the township, as it prepares to go out of business.

TransAxle is preparing to cease operations after the company, which remanufactures auto parts, failed to find a buyer.

The company was founded in 1979 in Cinnaminson, where TransAxle is headquartered and operates one of its factories.

TransAxle is laying off 209 employees overall, who will be terminated in August, the company said last week when it informed a state labor department of the cuts.

"TransAxle, LLC ... has been engaged in efforts to sell the business for some time," wrote Chief Restructuring Officer Richard Malagodi. "Despite our efforts we have not been able to consummate a sale at this time. As a result, the Company finds itself in the difficult position of having to conduct an orderly wind down of the business."

The layoffs in Cinnaminson include 35 mechanic assemblers and several others in manufacturing, distribution and administrative roles.

TransAxle is also cutting 29 jobs in Pennsauken.

The company has more than a dozen facilities that are mostly spread throughout the East Coast, according to its website.

TransAxle says its layoff notices are in line with the Worker Adjustment and Retraining Notification (WARN) Act. The federal law requires employers to provide at least 60 days' advance notice before mass layoffs or facility closures go into effect.