Weyerhauser lays off 1,000 from headquarters

FEDERAL WAY, Wash. — Weyerhaeuser Co. announced Tuesday that it will lay off 1,000 people from its Federal Way headquarters over the next 18 months, bringing the company's rapid downsizing home to the Puget Sound region in a hard and sudden way.

The layoffs in Federal Way are part of a total of 1,500 corporate jobs the company says it intends to cut by the end of 2009.

Weyerhaeuser announced the management-level layoffs in conjunction with a dispiriting loss of $96 million in second-quarter earnings and a 17 percent drop in sales.

Read the full story at