American Standard Cos. Inc. reported lower fourth-quarter earnings, weighed down by the additional costs of cutting 700 more jobs than the 1,000 expected to be eliminated. The jobs will be in support and administrative positions, and more than half will comes from the Trane Division. The New Jersey-based company took a fourth-quarter charge of $53 million to cover the job elimination, and net income fell to $20 million from $59 million a year ago.
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For plumbers in Flint, Mich., “it’s been a heck of a year,” said Harold T. Harrington, a master plumber and pipefitter working as the business manager for Flint’s United Association of Plumbers and Pipefitters, Local 370. Read more stories in 2017 March Issue.