Johnson Controls expects significant job cuts

Newswire

By David Bailey CHICAGO, June 30 (Reuters) - Auto parts maker Johnson Controls Inc. expects significant job cuts over the next year as it shifts production to lower-cost areas and drops unprofitable business, a top executive said on Friday. Johnson Controls late on Thursday said it would take after-tax charges of up to $140 million in its third quarter, ending today, to restructure its autos business in North America and Europe, and its building controls business in Europe. The company ...

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