Emerson Electric Layoffs Job Cut: fires 14000 employees

Seems like the doomsday has arrived for the St. Louis-based company Emerson Electric employees. The news is not good for the employees of Emerson Electric, the world’s largest maker of power equipment for oil companies. Another news of layoffs, another company joining the group of companies to go for layoffs. The firm Emerson Electric, has decided to go for Emerson Electric Lay offs or Emerson Electric Job Cuts.

How many employees may be fired by Emerson Electric layoffs?
The news is that around 14000 employees will be made jobless at Emerson Electric.

How many employees does Emerson Electric have?
The total no. of employees at Emerson Electric is not known as of now. However, the target of teh company is to bring the workforce to 120,000 by September 2009. The company had 141,000 workers on Oct. 1, 2008,

Any news of previous layoffs by the company
Yes. around 7000 jobs were cut by Emerson last year in October.

Any plants or locations being closed by Emerson Electric?
No such news as of now.

Which locations will be affected by the Emerson Electric Layoffs?
No details are available about the specific locations with respect to the job cuts.

How much savings can be made by Emerson Electric Layoffs?
There will be charges between $175 million and $200 million this year up from as much as $90 million last year.

Any severance package for the affected employees?
No info available.

What are the primary reasons of Emerson Electric Layoffs
The layoffs, along with other cost cutting measures, are in response to continuing uncertainty in the market.

Any other news about Emerson Electric?
As per Bloomberg News, Emerson said Feb. 3 that sales may fall as much as 8 percent this year amid a global recession and credit crisis. Full-year earnings will likely fall to $2.70 to $2.95 a share from $3.11 a share in fiscal year 2008
Let's hope that alternative jobs are available to the affected employees of Emerson Electric Layoffs Job Cut