Clothing fabric manufacturer Ramtex on Thursday announced plans to axe 120 jobs citing increased price pressures and tough trading conditions from the flood of cut-price imports from overseas.

The North Carolina-based company, which makes woven fabric for men's shirts, said the cuts will not affect the remaining 480 employees at its mill in Ramseur.

It added the financial woes of some of its largest customers, such as Burlington, had also hit it hard.