Medtronic will eliminate between 1,500 and 1,800 jobs from its global workforce by the end of June. The manufacturer has implemented a salary freeze and a 5% executive pay cut. Meanwhile, Medtronic is planning to add 700 jobs through next year. The firm employs 39,000 workers globally. Medtronic, based in Minneapolis, Minnesota, is the world’s largest medical technology [...]
Continue reading...Tuesday, April 28, 2009
Amcore Financial will reduce its workforce by 9%, and cut executive pay. The company will eliminate 116 positions, including that of chief operating officer. The firm reduced staff positions by 11% in Q4 2008. The company has also cut executive salaries by 5%, canceled merit-based pay increases, and slashed contributions to its 401(k) plan. Amcore is a multi-bank [...]
Continue reading...Wednesday, March 25, 2009
North Andover, Massachusetts’ Watts Water Technologies says its senior executive team got an across-the-board pay raise, and hundreds of thousands of dollars in perks that included car allowances, sports tickets and housing payments. This is just weeks after the manufacturer of scientific tools and technologies announced the closure of three facilities and 400 layoffs. Timothy Horne, the [...]
Continue reading...Monday, February 2, 2009
Cleveland, Ohio’s Lincoln Electric Holdings will eliminate more than 10% of its global work force and cut executive compensation, in an attempt to lower costs to deal with the economic meltdown. The welding products manufacturer plans to cut hours at its Cleveland plant, offer voluntary buyouts to about 2,900 Cleveland employees, freeze merit raises & external [...]
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Tuesday, May 19, 2009
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