Meritor to Take $15 Million to $25 Million Charge, Eliminate 200 Jobs
Meritor Inc. said Tuesday that it expects to take a charge against earnings of $15 million to $25 million and eliminate about 200 salaried employees.
The charge will be for employee severance, lease termination and other associated costs related to corporate restructuring, the truck and trailer component maker said in a Securities and Exchange Commission filing.
Meritor, Troy, Mich., said its management will further detail the expected benefits of the actions and their expected timing of costs at a Feb. 5 meeting with investors and analysts in New York.
The company said in November, when it reported its fiscal fourth-quarter profit for the three months ended Sept. 30 declined from a year ago, that it would cut its global workforce by about 800 jobs.
