Harnischfeger Cuts 2,350 From Payroll

Thu., Aug. 27, 1998

From Staff

Paper and mining equipment manufacturer Harnischfeger Industries Inc. plans to cut about 2,350 jobs, or another 16 percent of its work force, and posted an unexpectedly large loss in its latest quarter.

The job cuts were being made as part of efforts to bring expenses in line with lower sales levels, company officials said.

The job cuts announced Wednesday were in addition to 750 jobs that it previously said would be eliminated at its Beloit Corp. paper equipment division.

The combined 3,100 job cuts represents about 20 percent of the company’s work force of 15,500 people last November when its fiscal year began.

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Harnischfeger Cuts 2,350 From Payroll

Jesse Tinsley

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