Johnson Controls has announced that it is planning to reduce its global salaried workforce by as many as 3,000 people, or 2.5% of total employees, through initiatives designed to ultimately deliver up to $250 million in annual cost savings. It said the reductions will take place over the next two years.
In its third quarter earnings announcement, the company announced it was initiating a comprehensive cost saving program to address existing costs
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“As we continually adapt to our changing business portfolio, there is significant opportunity across the company for us to reduce costs, simplify processes and increase our speed and agility,” said Alex Molinaroli, chairman and CEO. “The steps we are taking now will enable a more competitive, sustainable cost structure for Johnson Controls as we continue to move the company forward.”
The company is planning to divest its automotive operations.
