NEW YORK: Industrial conglomerate Emerson Electric Co could cut its workforce by up to 14,000 from current levels by the end of the fiscal year
that ends in October, Emerson Chief Executive David Farr told an investor meeting on Friday.
Emerson's global workforce peaked at about 141,000 last year, spokesman Mark Polzin told Reuters, and now stands at about 134,000. That could drop to about 120,000 by the end of the current fiscal year, Polzin said.
Earlier this week, Emerson reported better-than-expected quarterly earnings but cut its full-year profit forecast and said 2009 sales could decline by up to 8 percent from last year's levels, citing recent order patterns.
St. Louis, Missouri-based Emerson's products include technology used in the energy industry, industrial automation systems, and power systems for telecom and data networks.
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