John Paulson, a hedge fund billionaire and prominent Donald Trump donor, is planning to close a manufacturing plant in Eastlake, Ohio, and move most of its work to China by June 2026, eliminating 150 jobs. The decision has sparked outrage among workers, who accuse Paulson of hypocrisy after he publicly advocated for domestic manufacturing.
Conn Selmer, the largest US manufacturer of brass and orchestra instruments and owned by Paulson, informed the United Auto Workers (UAW) Local 2359 of the closure during contract negotiations last month. Robert Hines, union president, said the company presented the closure as a non-negotiable decision, leaving workers feeling betrayed.
Paulson, who made his fortune betting against the housing market in 2008, has been a vocal critic of offshoring. In a September 2024 CNBC interview, he stated, “We can’t have American producers closing American factories and offshoring. We need to protect American jobs and protect American manufacturing.” Workers now call his actions “a slap in our face.”
Union members report that Conn Selmer opened a facility in China last year and gradually shifted work there, despite assurances that the Ohio plant would not be affected. Workers have complained about poor-quality brass metal from China that had to be scrapped.
The union held a rally in Eastlake in early February and released a video featuring workers expressing their anger and sense of betrayal. “It leaves a hole in your heart,” one worker said. Hines hopes Trump will intervene, saying, “This decision can still be reversed.”
Conn Selmer confirmed the tentative decision to transfer some production offshore, stating it “will improve our competitiveness and better meet today’s market demands.” The company added it remains “deeply committed to US manufacturing.” The White House did not respond to requests for comment.
