TRW Inc. says it will lay off 1,000 workers at its automotive unit as a result of slowing new vehicle production. The No.2 airbag producer expects to take a $40 million charge related to the cuts during the first quarter. Industry analysts say the layoffs could reduce employee expenses by about $40 million a year. TRW says it expects production to drop 10% in North America and 2% in Western Europe this year from year-ago levels. The company saw a 63% drop in fourth quarter profit due to ...
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