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CTS to Layoff 60, Take Charge |
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Written by Mike Buetow
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Friday, 10 October 2008 |
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ELKHART, IND – CTS Corp. will reduce headcount by about 60 positions as part
of an operational restructuring, the company said. The company will
also consolidate certain operations and to improve its cost structure.
The restructuring will result in a pretax charge of approximately $4.4
million, $3.5 million of which CTS plans to take in its fiscal third quarter.
The job reduction amounts to about 1% of the company’s 4,746 employees, per
its Dec. 31 SEC filings. |
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