In Europe, the company says it is "significantly" reducing the workforce in its Bonlanden, Germany-based European Headquarters and TechCenter. The actions are part of Modine’s restructuring program focused on reducing selling, general and administrative costs and other steps to restore profitability to its global operations, which, it says, "have been severely impacted by the current worldwide economic crisis."“The decision to further reduce our workforce was extremely difficult, but it is one that is essential in these unprecedented times,” said Thomas A. Burke, President and Chief Executive Officer, in a prepared statement. “We are extremely grateful to these employees for their service to Modine and completely committed to provide resources and support to help them transition to other opportunities.”
The company says it will discuss the workforce reduction and additional restructuring activities when it announces results for the third quarter of fiscal 2009 on or about Feb. 9, 2009.
Go Obama! More of this to come thanks to his Marxist ideas.
ReplyDeletecolt - get real how do you think we got in this mess?
ReplyDelete"2009 - the end of an error."
Relax colt, I'm the Messiah Hussein will give them all public service jobs. He has 3 million jobs for them. NObama!
ReplyDeleteCome on. You can't tell me that you are that out of touch. We have suffered under the leadership of President Bush. Things were great when he started and are the worst they have been since the Great Depression. We as a country will need to make scarifies. We might not be able to purchase new cars every year or take big expensive vacations. We as a country have gotten too greedy and allowed it to keep happening. I remember my mom talking about how companies didn't always care about the bottom line. They cared about their employees. Our CEO's didn't make the ridiculous amount of money while the working class took job cuts. We need to refocus our energy on what is important. 1. Education, 2. Health Care!, 3. Economy. We can't do that as long as everyone is so negative. Let's be happy we have a chance to start over.
ReplyDelete