ROCKWELL Automation‘s parent company in the US is reportedly planning to cut 600 jobs as a result of tight credit conditions and slowing sales.
The company, the world’s largest factory automation products manufacturer, says it will aim to cut around three per cent of its 20,000 employees, mostly from the sales and administrative sectors.
According to the developer, the cuts have been caused by current and anticipated market conditions. Financial analysts say the US manufacturing industry has been hit hard by the nation’s economic woes.
Experts have estimated the cuts will allow the company to save about $US50m (around $A75).
It is unclear how the Australian business will be affected by its parent’s predicament.
Add a comment