TRW to close plants, cut jobs in auto segment

Article Abstract:

TRW Inc. is planning to shut down 13 to 21 of its 137 plants and layoff 7,500 workers in a strategy that is aimed at making the air bag and steering systems manufacturer more competitive in the global auto parts market. The company's restructuring efforts, which will result in leaner manufacturing operations, will allow it to cut prices on its products and increase operating profit margins by 1.5 percentage points. TRW's current operating profit of 8.5% of sales, although well above the industry average of 6.5%, should be in the double digits, according to industry analysts.

Comment:

Planning to shut down 13 to 21 of its 137 plants and layoff 7,500 workers in cost-cutting strategy

Diversified Companies, Labor force information, Company Personnel, Northrop Grumman Space & Mission Systems Corp., Article

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SPX to close facilities, eliminate jobs in move to restructure General Signal

Article Abstract:

SPX Corp. announced how it will reorganize and consolidate its July acquisition of General Signal. Over a period of about 6 months, SPX will reduce employment by about 1,000 jobs through early retirements, closing the Stamford, Conn., headquarters and about 24 other manufacturing and sales facilities. Other streamlining measures are likely to follow in 1999 including divesting some of General Signal's businesses.

Comment:

SPX starting to restructure its July acquisition

Carburetors, pistons, rings, valves, Carburetor, Piston, Piston Ring, and Valve Manufacturing, Carburetors, Rings & Valves, Automobile equipment and supplies industry, Automotive parts industry, Abstract, Buildings and facilities, Engine parts, SPX Corp., SPW

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