January 27, 2009

Cooper Industries doubles layoff plan to 2,200

Filed under: Manufacturing,US — 7macaw @ 11:02 am
Tags: , , ,

Cooper Industries Ltd., the maker of Halo-brand lighting, said it increased its planned work force reductions to more than 2,200 jobs globally as economic conditions deteriorated.

The increased job cuts, from an earlier target of more than 1,000, resulted in a fourth-quarter restructuring charge of $35.7 million, compared with an earlier estimate of as much as $22 million, the Houston-based company said today.

Source: Houston Chronicle

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