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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