Layoff Totals for US Companies Message Board

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From: peppe51	1/15/2009 8:36:58 AM
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1000....Ecolab Inc. on Wednesday followed the beat of the drum of other large U.S. companies, announcing a large round of job cuts due to economic conditions. St. Paul-based Ecolab (NYSE: ECL) said it’s restructuring its businesses and will cut 1,000 positions, or 4 percent of its 26,000 person workforce. Fewer than 100 jobs were cut in Minnesota, according to Ecolab spokesman Mike Monahan. Employees were told of the layoffs Wednesday. The cleaning products manufacturer also said it’s speeding up a cost-cutting plan to reduce the number of products it sells by 40 percent. It also is reducing its number of plant and distribution centers, closing two small “non-strategic” health care business and writing down some investments it has in energy management. The company said in a news release after the market closed Wednesday that it would take a special charge in the fourth quarter of about $19 million related to the cost cutting moves. The actions are expected to save the company $70 million to $80 million annually. bizjournals.com

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