American Standard Pares 1,000 Jobs As Sales Decline

by WOHe

American Standard Pares 1,000 Jobs As Sales
Decline

Piscataway, NJ American Standard Companies Inc., the plumbing
products giant based here, has released some 1,000 employees in an
effort to cut some $40 million in annual costs, the company
announced.

The job cuts, announced last month, involved administrative and
support personnel at the $7.6-billion company, which also produces
air conditioners, and automotive brakes. The 1,000 jobs represented
some 5% of the total salaried workforce at the publicly traded
company, American Standard officials said.

Not affected by the cuts were sales or production workers, said
chairman and CEO Fred Poses, who told Wall Street stock analysts
that American Standard “will be able to respond to any upturn [in
the economy], whenever it comes.”

The workforce reduction represented American Standard’s second
round of job cuts this year in response to a drop in sales and “the
uncertainty and difficult times” following the Sept. 11 terrorist
attacks on America.

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