(Richmond, IN)--Employees of Mosey Manufacturing are indicating that the Richmond-based manufactured has initiated either an extended layoff or permanent closure. Earlier this week, Kicks 96 and 101.7 The Point News reported that Mosey had sent a letter to its employees indicating that it had lost two major contracts with auto manufacturers. On Wednesday night, employees said that they were told that Wednesday would be their last day. A letter distributed to employees Wednesday explained options for extending health insurance. According to the EDC, Mosey employs 300 people. Employees said only a handful will remain for the next week to assist in the shutdown and removal of equipment. There has been no official statement from Mosey. The company was founded in Richmond by Charlie Mosey 75 years ago.