wiredinUSA August 2014

INDEX

Restructure job losses

General Cable Corp is implementing a restructuring program, expected to shed 1,000 positions, and has lowered its operating income guidance to $200-$230 million, down from $230 million. that restructuring will save around $10 million, beginning this year, with $75 million in annual savings by 2016. The company announced it will close “certain under performing assets” while consolidating and realigning other facilities, but did The manufacturer estimates

not disclose which of its facilities will be affected.

“While we strongly believe our business is well positioned for the long-term, we are continuing to face ongoing challenges in certain end markets and persistently uneven global demand and pricing,” explained president and CEO Gregory Kenny. The 1,000 lost jobs will represent about seven percent of the company’s global workforce.

wiredInUSA - August 2014

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