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    Graco and Tennant announces job cuts


    by employmentcrossing

    Graco Incorporated and Tennant Co. have announced 150 and 240 respective job cuts due to the troubled economy.
    Graco, a Minneapolis-based spray and fluid-equipment maker, will cut six percent of its workforce due to a 15 to 20 percent decrease in orders.
    The company expects the layoffs to ultimately save it $9 million a year.
    Tennant, which makes street sweepers and large floor cleaning machines, expects sales to drop 15 to 20 percent in the fourth quarter so it will offset the shortfall by cutting 8 percent of its staff by the first quarter.
    Tennant expects the job cuts to save $20 million a year.
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