The Timken Company (USA; NYSE: TKR) announced 45 people have been laid off from its miniature and precision bearing manufacturing plant in Lebanon, New Hampshire.

The Lebanon factory manufactures high-precision ball and roller bearings for defense, commercial aircraft and aerospace applications and industries.

Although not directly involved in the ever-problematic auto industry slump, Lebanon's non-defense customers are feeling the economic slowdown in terms of fewer customer miles traveled and therefore less aircraft maintenance required.

Well over 700 people, in total, are employed at Lebanon. So far, the cutbacks have only affected hourly production workers. However, if the aircraft and aerospace slowdown continues into 2010 as expected, more cutbacks could be coming.

Lebanon is also home to a key Timken technology center, and an FAA-certified repair and reconditioning facility for aircraft engine bearings.