Rockwell Automation to lay off 600 people
Keith D. Nosbusch, chairman and chief executive officer, said, These actions are consistent with the cost management approach we outlined in July. Although fourth quarter revenue is in line with expectations, we believe it is prudent to take steps to address our cost structure while continuing to invest to maintain our competitive differentiation and further strengthen our global presence.
The restructuring includes streamlining administrative and operations functions, realigning selling resources to the highest growth opportunities and consolidating business units. The restructuring headcount reductions, primarily in selling, general and administrative functions, equate to approximately three percent of the Companys global workforce. Implementation will begin immediately.
The Company intends to release its fiscal 2008 fourth quarter results and hold a conference call to discuss those results on Tuesday, November 11.
This news release contains statements (including certain projections and business trends) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as believe, estimate, expect, project, plan, anticipate, will, intend and other similar expressions may identify forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to:
Rockwell Automation, Inc. (NYSE: ROK), is a leading global provider of industrial automation power, control and information solutions that help manufacturers achieve a competitive advantage for their businesses. The company brings together leading global brands in industrial automation that include Allen-Bradley® controls and services and Rockwell Software® factory management software. Headquartered in Milwaukee, Wisc., the company employs about 20,000 people serving customers in more than 80 countries.
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