LayoffBlog.com

March 3, 2009

Timken to cut 400 salaried jobs

Steel alloys and bearings maker Timken. Co. says it plans to cut 400 salaried jobs as it reduces costs to match a slowing market for its products. The Canton, Ohio-based company said that the job cuts represent about 2 percent of its work force.

The recession has manufacturers cutting jobs at a rapid pace while new orders are falling.

Source: The Columbus Dispatch

1 Comment »

  1. Timken has been systematically dismantling the former needle bearing business, rather than sell it. They would rather destroy it than have it fall in the hands of a competitir who know how to run it.

    Comment by Former TorrCo — March 24, 2009 @ 3:54 pm | Reply


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