Tyco adds to U.S. tide of job cuts

[OhioChick]

Source: Pennlive.com

Tuesday, December 09, 2008

Tyco Electronics Ltd. began laying off workers locally and throughout North America on Monday as part of a plan to cut its worldwide work force by 2,500 by the end of March.

Spokesman Mike Ratcliff would not specify how many jobs were eliminated locally, but the number is believed to be more than 100 and fewer than 200. Tyco Electronics employs about 4,600 in south-central Pennsylvania.

The cuts are the result of a downturn in the electronic-connector business, which makes products for the automotive and computer industries, among others.

The Tyco cuts come amid another day of big job cuts nationwide.

Dow Chemical Co. said Monday it will slash 5,000 full-time jobs -- about 11 percent of its work force -- close 20 plants and sell several businesses to rein in costs amid the economic recession. Last week, Dow's rival DuPont said it would cut 2,500 jobs.

Anheuser-Busch InBev, the maker of Budweiser beer, announced Monday it would cut 1,400 U.S. jobs. The company said it was trying to cope with a "challenging economy."

Nationwide, employers cut 533,000 jobs in November, the biggest one-month loss of jobs in 34 years, according to the U.S. Labor Department.

Tyco expects sales to be down 16 percent to 19 percent in the first quarter ending this month and said last week that its order pattern in November was weaker than its soft October performance, particularly in the electronics-components business that makes up 75 percent of its sales.



Read more: http://www.pennlive.com/news/patriotnews/index.ssf?/base/news/1228794016161450.xml&coll=1

[FirstLight]

1. My sister works for them in Reno..

Yesterday was the big day, she walked out with her job, 2 of her coworkers in her dept (purchasing) are axed, and the one they left behond is the one she has the most trouble with geting her share of the work done. total bulshit call, I sometimes think they draw names out of a hat for crissakes...

at least my sis is still gainfuly employed. Though I hate to say it could do her some good to see how the other half lives, like me.