Saturday, September 30, 2006

Does Gloria attract layoffs?

Pity poor Gloria Irwin. She cannot seem to get away from layoff problems. She wrote most of the Beacon Journal stories on the downfall of Knight Ridder. Then came the BJ layoffs and Gloria decided to leave for a new job at the Timken Co.

Top story today in Canton was that Timken was laying off 700 workers. Guess what? Gloria officially starts her new job Oct. 1. She will be writing speeches for President and Chief Executive Officer James W. Griffith whose job it is to explain it all.

No problem. It’s because of a weak auto market. Forbes Magazine reported Ford may lay off 30,000 and close 10 plants. You just can’t get away from those layoffs.


Reporter G. Patrick Kelley explains it in the Canton Repository today in a story headlined: Timken slashes 700 jobs. Here’s the lead:

CANTON – The Timken Co. said this year won’t be as profitable as predicted because of a weak auto market, and 700 workers will lose their jobs.

It’s the second time in two years that the company has slashed jobs in its automotive bearing and component business. In July 2005, the company said it would cut 500 automotive jobs and later closed a bearing plant in South Carolina that employed 1,000 workers.

That was a restructuring move to cut costs, but Friday’s announcement was about “matching demand in the marketplace,” President and Chief Executive Officer James W. Griffith said.

“We wouldn’t be having this call if it weren’t for lower demand in the automotive market,” he told analysts in a conference call.

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