More Cuts For Harman
Harman International said this week that it expects to finish reducing its work force by 2,000 by the end of June, the Connecticut Post reported Tuesday. The cuts have and will come through closing of facilities, as well as consolidation of its consumer product unit.
"Due to the unprecedented downturn in the automotive industry which represents seventy percent of our business, we are continuing our aggressive actions for sustainable cost reduction and prudent cash management, including the reduction of more than 2,000 jobs during this fiscal year," company chairman and CEO Dinesh C. Paliwal said as part of the company's earnings announcement earlier this month.
He added that the company has successfully launched 12 of 13 audio and infotainment platforms since last year.