BUSINESS

NKY-based General Cable to cut 1,000 jobs

Jason Williams
jwilliams@enquirer.com
Susan Faulkner works at General Cable's manufacturing plant Lawrenceburg, Ky., in 2008.

Northern Kentucky-based General Cable plans to eliminate 1,000 jobs through a global restructuring program – although it is uncertain if any local positions will be affected.

The Fortune 500 company announced Wednesday the job reductions will generate $10 million in savings this year. The cuts are expected to save General Cable $75 million annually, beginning in 2016.

General Cable, headquartered in Highland Heights, manufactures and sells aluminum, copper and fiber-optics cables. It has manufacturing plants and offices in several countries.

A company news release did not specify where the layoffs would occur, other than saying it would be a global reduction that represents 7 percent of General Cable's workforce. Len Texter, vice president of investor relations, did not immediately return a message seeking comment.

"We are continuing to face ongoing challenges in certain end markets and persistently uneven global demand and pricing," Gregory Kenny, president and CEO of General Cable, said in a release. "While these are difficult decisions that affect the lives of our employees, we believe these actions are essential." •