Wabash Cuts 500 Jobs
Realizing it cannot meet analysts’ first quarter 2001 estimates, Wabash National has announced it will cut about 500 hourly and salaried positions as part of a cost reduction program to meet the widespread economic slowdown.
The company had already said its first quarter results include costs associated with restructuring activities, including its exit from export markets and discontinuation of international leasing and finance activities. These costs, coupled with the soft North American trailer market, will put first quarter earnings at $0.03 to $0.10 per share, the company says.
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