Through initiatives designed to ultimately deliver up to $250 million in annual cost savings, Johnson Controls said it is planning to reduce its global workforce by as many as 3,000 people, or 2.5 per cent of total employees.
“Productivity improvements continue to be realised through the ongoing implementation of the JCOS which is lowering operating expenses through standardisation, simplification and waste reduction,” it added.Through initiatives designed to ultimately deliver up to $250 million in annual cost savings, Johnson Controls said it is planning to reduce its#
"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," CEO Alex Molinaroli said.
"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," Molinaroli too added in a press release.
Johnson Controls is a global diversified technology and industrial company serving customers in more than 150 countries.
It offers quality products, services and solutions for buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles.
Johnson Controls further said its commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat.
“Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful,” the company informed. (AR)
ALCHEMPro News Desk – India
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