More manufacturers reported cost cuts this week, including Gibraltar Industries Inc., Buffalo, NY, and Regal Beloit Corp., Beloit, WI. Regal Beloit is a $1.8 billion manufacturer of mechanical and electrical motors and generators. It’s closing a Leeson Electric plant. Baldor Electric is cutting jobs an estimated 900 by next June through attrition and retirement.Gibraltar Industries will close its Enterprise, MS, facility and consolidate its operations into two other existing facilities. Since the start of 2007, Gibraltar has streamlined its operations with 24 facility consolidations and the reduction of work force by nearly 20%. Gibraltar’s president and COO said: ‘Business conditions have deteriorated sharply in the last month. Due to the very tight credit market, many of our …
More Manufacturers Announce Cost Cuts
More manufacturers reported cost cuts this week, including Gibraltar Industries Inc., Buffalo, NY, and Regal Beloit Corp., Beloit, WI. Regal Beloit is a $1.8 billion manufacturer of mechanical and electrical motors and generators. It’s closing a Leeson Electric plant. Baldor Electric is cutting jobs an estimated 900 by next June through attrition and retirement.Gibraltar Industries will close its Enterprise, MS, facility and consolidate its operations into two other existing facilities. Since the start of 2007, Gibraltar has streamlined its operations with 24 facility consolidations and the reduction of work force by nearly 20%. Gibraltar’s president and COO said: ‘Business conditions have deteriorated sharply in the last month. Due to the very tight credit market, many of our …
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