Belden cuts 1800 employees
- 15 years ago
http://www.EmploymentCrossing.com
Cable manufacturer Belden will cut 1,800 employees, or 20 percent of its workforce, and consolidate some manufacturing operations due to weaker demand for its products.
St. Louis, Missouri-based Belden expects to incur one-time charges of between of up to $65 million related to the restructuring.
The manufacturer expects the changes will provide annual cost savings of about $50 million.
In October, Belden, which makes signal transmission products such as cables and connectors, reported a drop in third-quarter profit.
Belden is a maker of signal transmission products, primarily for the entertainment, residential, industrial and security markets.
Cable manufacturer Belden will cut 1,800 employees, or 20 percent of its workforce, and consolidate some manufacturing operations due to weaker demand for its products.
St. Louis, Missouri-based Belden expects to incur one-time charges of between of up to $65 million related to the restructuring.
The manufacturer expects the changes will provide annual cost savings of about $50 million.
In October, Belden, which makes signal transmission products such as cables and connectors, reported a drop in third-quarter profit.
Belden is a maker of signal transmission products, primarily for the entertainment, residential, industrial and security markets.