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Gold Toe Moretz confirmed it will close its sock making plant in Burlington and transfer the production to Mexico and Asia, a move that will put 425 people out of work.

Gold Toe Moretz said it would begin closing out its finishing and knitting operations at its Annedeen plant on Plaid Street in March. Production should end by mid year.

“Today, we live in a global marketplace which necessitates the expansion of our ... facilities in Mexico and our supply chain partners in Asia,” Bill Sheely, the company’s executive vice president of operations said in a news release. “ ... This was a very difficult decision, but allows us to continue to focus on the long-term goals of the company.”

Gold Toe currently employs about 700 people in the Alamance County area, including an administrative office in Stoney Creek and a distribution center in Mebane. Those operations, plus additional administrative personnel on Plaid Street, will not be affected by the layoffs.

A company official said some of the plant’s equipment also would be shipped overseas.

The 252,000-square-foot plant, parts of which date back to the 1880s, produces men’s and women’s socks in dress, casual and athletic styles.

Company officials spent Tuesday and Wednesday breaking the news to employees of the three-shift operation. But the layoffs didn’t come as a surprise.

“The rumors have been very strong the last 30 days,” said Ken Barnwell Sr., the company’s senior vice president for human resources. “At this point, (the priority) is taking care of the associates, helping them with the transition. That’s the big thing on the plate for the next few months.”