ArvinMeritor Reportedly Cutting 1,850 Jobs Worldwide

Commercial components supplier ArvinMeritor Inc. plans to cut 1,850 jobs at 11 plants, or about 6% of its global work force, the Associated Press reported Wednesday.

The company on Tuesday reported a second-quarter 2005 loss of $33 million or 48 cents a share, compared with a profit of $41 million or 59 cents a year earlier.

ArvinMeritor would not specify in its Securities and Exchange Commission filing where the job cuts were being made or the plants were located, AP reported.

In its filing ArvinMeritor said the cuts primarily affect its light-vehicle segment, most of which is located outside the United States, AP said. ArvinMeritor has about 31,000 employees at 120 plants in 25 countries.

In its second-quarter filing, ArvinMeritor reported income from continuing operations, excluding restructuring costs and special items, was $21 million or 30 cents a share, down from $31 million or 45 cents last year.

Sales rose 14% from last year to $2.28 billion, the company said.

“Despite tough conditions and many challenging issues within the industry as a whole, we are making good progress in growing our sales and managing our costs,” Chairman and Chief Executive Officer Charles McClure said in a statement.