Slackening sales, increasing competition, and other financial pressures forced AMP Inc. to announce July 17 that it will cut 3,500 employees worldwide, furlough its 22,000 U.S. staffers for a week this summer, close three plants, and transfer some product lines. Personnel will be cut through layoffs, early retirement, and attrition.
Slackening sales, increasing competition, and other financial pressures forced AMP Inc. to announce July 17 that it will cut 3,500 employees worldwide, furlough its 22,000 U.S. staffers for a week this summer, close three plants, and transfer some product lines. Personnel will be cut through layoffs, early retirement, and attrition. Though AMP will decide which jobs to eliminate over the next few months, many will be in the support staff area, and so the company will also seek to outsource many of those tasks. A leading connector supplier, AMP plans to finish its downsizing by the end of the year. Furloughed employees reportedly had to use a week’s vacation or take a week off without pay between July 4 and Aug. 15. AMP plants slated for closing include two.
