Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
1/8/2013 1:15:00 PM Write a Letter to the Editor Write a letter to the Editor

Meritor to Take $15 Million to $25 Million Charge, Eliminate 200 Jobs


John Sommers II for TT

Meritor Inc. said Tuesday that it expects to take a charge against earnings of $15 million to $25 million and eliminate about 200 salaried employees.

The charge will be for employee severance, lease termination and other associated costs related to corporate restructuring, the truck and trailer component maker said in a Securities and Exchange Commission filing.

Meritor, Troy, Mich., said its management will further detail the expected benefits of the actions and their expected timing of costs at a Feb. 5 meeting with investors and analysts in New York.

The company said in November, when it reported its fiscal fourth-quarter profit for the three months ended Sept. 30 declined from a year ago, that it would cut its global workforce by about 800 jobs.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

TFM

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement