ABB Cuts Workforce at Power-Grids Plant in U.S.
January 10 2020 - 10:01AM
Dow Jones News
By Kim Richters
Swiss engineering company ABB Ltd. (ABBN.EB) said Friday that it
was cutting more than a hundred jobs at a power grids facility in
the U.S.
The company said it is reducing the workforce at the plant in
South Boston, Virginia, by 113 employees in order to become "a
leaner and more competitive organization." The site previously
employed 467 workers.
The transformers production plant is part of ABB's power-grids
business, which the company is selling to Hitachi Ltd. (6501.TO).
ABB said the decision to lay off staff was in no way related to the
sale, which is expected to close in the first of half of this
year.
ABB has been reducing staff as part of an overall restructuring
of its operations, which it announced one year ago.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
January 10, 2020 09:46 ET (14:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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