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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Itron Announces Plans For Layoffs

From Staff And Wire Reports

Itron Inc. Friday announced it will lay off about 6 percent of its work force.

The move will affect between 15 and 20 jobs at the company’s Spokane Valley headquarters, said Treasurer Mima Scarpelli.

Most of the remaining jobs are at a facility in Waseca, Minn., she said, adding that some of the meter module manufacturing done there has been consolidated into the Spokane plant.

The company employs about 1,000.

Scarpelli said the cutbacks were a response to losses in the second half of 1996. Expenses associated with the layoffs, which she declined to estimate, will be booked in the first quarter of this year, she said.

Fourth-quarter earnings for 1996 are due out next week.

Itron stock, which had a mercurial 1996, dropped $1.50 to $23.25 Friday, but was the best performing regional issue tracked by the Murphey Favre Northwest 50 Index. For the week, Itron was up $2.75. , DataTimes