A.O. Smith Announces Cost reduction Measures
December 3, 2001
In response to current and expected market conditions, A.O. Smith announced plans to reduce operating expenses in the electric motor business with a 10 percent reduction of its salaried workforce, the shift of additional motor assembly and parts operations to Mexico, and consolidation of warehouse operations. The company reported third quarter earnings of $0.4 million or two cents per share on sales of $269 million.