AMP Inc. cuts 3,500 jobs globally
Article Abstract:
AMP Inc., the largest manufacturer of connectors for electric and electronic devices in the world, will reduce an estimated 3,500 jobs worldwide by the end of 1998. The 7.5% reduction in AMP's work force is result of the current economic crisis in Asia and a failed business expansion. The company is considering the shutdown of its two facilities in Loganville, York County and Kernersville, all in North Carolina, that would affect 540 workers. Operations of the two plants will be moved to Pennsylvania, North Carolina and South Carolina. Jobs will be eliminated by layoffs, early retirements and attrition. Harrisburg, PA-based AMP has 46,500 employees in 53 countries, making specialized connectors for electric and electronic devices.
Comment:
Will reduce an estimated 3,500 jobs, a 7.5% reduction, worldwide by the end of 1998 due to Asia's economic crisis
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Calgon Carbon cutting work force by 10%
Article Abstract:
Calgon Carbon Corp., a company that specializes in making activated carbon and other products for the environmental services industry, has announced it will lay off 10% of its 1,300-people workforce as part of its strategy to restructure its operations. The company is expected to spend $10 million to implement the reorganization, including a $7.2 million pre-tax charge for the job eliminations plus asset writeoffs. Calgon Carbon said the job cuts will be made through a combination of layoffs and attrition but declined to specify the number of employees who will lose their jobs or or the number of job areas to be eliminated.
Comment:
Announces it will lay off 10% of 1,300-people workforce as part of strategy to restructure operations
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
End of an era
Article Abstract:
Northwestern Steel and Wire Co., a steel company based in Sterling, IL, will stop producing lawn and garden, nails and agricultural products as well as layoff 400 of its 2,000 workforce. The compay will also take a $41.9 million pretax charge to shut down money-losing operations. The moves are necessary in light of the accumulated losses since 1995 and the possibilities that losses will continue, according to Chairman Thomas Gildehaus. Northwestern Steel and Wire, established in 1879 as Northwestern Barb Wire Co., is the biggest employer in the area.
Comment:
Will stop producing lawn and garden, nails and agricultural products
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Turbulence at U.S. loan agency. Rules on market timing to change. N.J. travels tobacco road to raise cash
- Abstracts: Hefty rate boosts seen for health insurance. Telemarketing firms crying for help. For a hearty holiday treat, Europe insists on lobsters
- Abstracts: Nabisco puts word in for employees. Software firm building new headquarters
- Abstracts: Allegheny bankruptcy rings up its own costs. St. Regis sign to go up as Ritz-Carlton moves
- Abstracts: Romano's: big on soul. Windows on the capital city: Camelot Club turns 40. Successful computer startup has a Cinderella story and a mission