Lincoln Electric cuts staff in anticipation of long recession

[AnOhioan]

Source: Cleveland Plain Dealer

Despite healthy profits this year, Lincoln Electric Holdings Inc. says it's cutting costs and staff in "anticipation of a long, deep recession."

Since October, the manufacturer of arc welding products has let go more than 50 third-party contractors and several Lincoln employees from its Northeast Ohio factories in Euclid and Mentor.

Gretchen Farrell, vice president of human resources, would not reveal the number of employees affected and said the reduction was not a layoff. The company employs more than 3,000 people in Northeast Ohio and 9,600 worldwide, she said.

Read more: http://blog.cleveland.com/business/2008/12/profitable_lincoln_electric_cu.html

[bemildred]

1. Thanks for this, President Bush and all those Republican cheerleaders. nt

[Blue Diadem]

2. in anticipation

I think there is a lot of that going on. I'm already hearing of cuts in staff at colleges and at hospitals in our area.

[ksimons]

3. where's the line for free cheese again - i lost my map

it is good cheese and an omelette helps to keep the chill off

(hold the eggs)

[ben_meyers]

4. I used to live on that government cheese and the mystery

meat in the gold tins back in college. Not bad stuff really. Surplus commodities it was called.