|
|
|
|
|
The eBearing News
September 23, 2005
Timken Cuts 190 Automotive Division
Jobs in Torrington
copyright © 2005 eBearing Inc.
The Timken Company (USA, NYSE:
TKR)
announced that, as part of its Automotive Group restructuring effort, 190 of its Torrington-area
jobs will be cut or relocated.
Timken inherited the Torrington facilities in its 2003 acquisition of The Torrington Company
from Ingersoll-Rand.
Auto industry suppliers are being squeezed, component by component, with auto manufacturers
demanding ever-lower prices while raw materials, energy, labor, and health care costs continue to rise.
In late July Timken revealed it was in a wide-ranging program
to pare its Automotive operation fixed costs by $40 million a year, shuttering unneeded facilities,
consolidating R&D efforts, and cutting at least 500 jobs over the next two years.
Engineering activities tied to automotive powertrain operations are being consolidated
out of Torrington to existing research facilities in Greenville, South Carolina;
Canton, Ohio; and Detroit, Michigan.
In the larger and long-term scheme, Timken recently announced plans to set up and staff
a facility in the new International Center for Automotive Research (
ICAR) campus with at least 110 engineers.
ICAR, announced in November 2003, is the creation of Clemson University (Clemson, SC). Although
many supporters tend toward political hyperbole in describing ICAR, Clemson-ICAR Executive
Director Bob Geolas said its, "aspiration is to be the premier automotive and motorsports
research and educational facility in the world."
article: Timken will staff ICAR with 110 engineers
The 190 jobs affected in Torrington will be cut in stages over the next three quarters, from
October 2005 through June 2006. Some will be given an opportunity to relocate, while the others
will receive severance and transition help.
By next summer, Timken's employment in Torrington will be down to just over 150; however, the
nearby facility in Watertown -- where another 650 people work -- is not affected.
Timken said the Torrington move is necessary to consolidate powertrain resources, combining
product and process engineering and restructuring to be more customer-responsive.
|
|
|
printer-friendly version
|
|
- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
|
|
eBearing.com ... for everything that moves™
Copyright 1999-2011, eBearing Inc. All rights reserved.
Copyright information is on www.copyright.com
Unauthorized reproduction is prohibited.
eBearing Inc, eBearing.com, and "... for everything that moves" are registered
trademarks of eBearing Inc.
|
|
|
|
|
| |
eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
|
|
|
