(Recasts first sentence, adds CEO comment, details, stock action, CHICAGO dateline) CHICAGO, Sept 29 (Reuters) - Timken Co. on Friday said it would cut about 700 jobs, or 5 percent of its automotive group employment, and significantly lowered its earnings outlook citing a decline in North American auto industry production, sending shares down 11 percent. "The widening decline in North American auto industry production has had a significant impact on our performance," Timken Chief ...
Premium Content (PAID Subscription Required)
"UPDATE 2-Timken to cut 700 jobs, lowers profit outlook" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642