Friday, January 9, 2009

Intermec Slashes Staff

Everett, Washington-based Intermec, a developer of supply chain tracking hardware, said late Thursday that the firm will cut 150 positions at the firm, or 7 percent of its staff. According to the firm, the moves are part of an effort to reduce its costs, in view of the current global economic conditions. Intermec said the cost cutting will save it approximately $14M to $16M in annual labor-related savings. The firm explained that the majority of the reduction will be in selling, general, and administrative areas, and that it will take a charge of $9.8M to $10.8M related to the cuts.