Kennametal Layoffs Job Cut: fires 1200 employees: Finance Trading Times

Kennametal Layoffs Job Cut: fires 1200 employees

The Kennametal has decided to layoff some 1200 workers. All the sectors are now melting under the pressures of falling market demand and financial problems. As a measure, they are going for layoffs. The latest one to add to the list is, Kennametal, which is a Latrobe-based manufacturer of industrial tools and specialty metals and has decided to go for layoffs. Kennametal Layoffs

How many employees will be fired in the Kennametal layoffs?
There will be around 1200 job cuts by the company.

When will the Kennametal layoffs happen?
The company will reduce its global salaried workforce by 800 positions within the next three to six months. Another 400 position will be eliminated in April 2009.

Will there be any plants closed by Kennametal?
No confirmed news yet. However, the news is that Only layoffs are planned as of now.

Which locations or plants will be affected by the Kennametal layoffs
The job cuts include 90 employees at its headquarters and 60 across the company’s Bedford, New Castle and Irwin locations. Kennametal employs about 1,600 in Pennsylvania, and 14,000 worldwide.

What are the primary reasons of Kennametal layoffs?
The company is going for restructuring, and hence the 1200 job cuts at Kennametal are being justified as a part of this restructuring exercise.

What is the total number of employees of Kennametal?
Kennametal has around ,600 in Pennsylvania, and 14,000 employees worldwide.

How much savings are expected by Kennametal layoffs?
Around 100 million dollars worth of pre-tax savings are expected annually.

Any other news about Kennametal layoffs
The company had plans to layoff 1,125 employees. But the company has ended up firing 1,380 employees, or about 30 percent of its total workforce.
Let's hope that alternative jobs are available to the affected employees of Kennametal Layoffs Job Cut
Have Comments or Questions? Please post them as comments using "Post our Comments" link below. Your queries will be responded for free in 24 hrs!

3 Comments: Post your Comments

Anonymous said...(on 16 January 2009 at 21:14 )  

Life sucks that's all with the present recession..

kenna employee

Anonymous said...(on 16 January 2009 at 21:19 )  

i was wishing to lead a pleasent life with kennametal till my lifetime,now i am not sure whether my dreams will only be a dream :(..planning to be happy till i will remain here


Depression and recession are haunting me

Anonymous said...(on 23 January 2009 at 18:32 )  

Another Anonymos....This country needs help asap...this is so sad to read ..I am unemployed and have been for a year from Parker Hannifin Corp. - closed Hose Products Div. It was open since 1928.I Qualify to work for Kennametal ,there hiring for several positions ..I..wonder how long this job will last if I were to receive one???? - just living.. bearly...My dreams were ruined...I guess you just pick up the pieces and go on the best way you can until the economy gets better..:) ~ :(

Wish you all happy and fruitful trading and investing activities with safety! = = = Post a Comment

Copyright Information:
© Finance-Trading-Times.com
Please see Our Copy Right Policy. All the articles, posts and other materials on this website/blog are copyrighted to the owners of this portal. The content should NOT to be reproduced on any other website or through other medium, without the author's AND owners' permission. Contact: contactus(AT)finance-trading-times.com

DISCLAIMER: Before using this site, you agree to the Disclaimer. For Any questions or comments, please mail contactus(AT)finance-trading-times.com.

About UsAdvertise with UsCopyRight Policy & Fair Use GuidePrivacy PolicyDisclaimer