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Rogers Corp. Cuts 90 Jobs

Published: 04 February 2009
 by Staff
ROGERS, CT – In an effort to reduce annual expenses by $27 million, Rogers Corp. will eliminate approximately 90 jobs. The measure will affect nearly 10% of its global workforce.
 
The cuts will come from attrition, unfilled positions and both voluntary and involuntary severance. Rogers has also reduced production hours at some facilities and frozen salaries.
 
The company expects the actions will generate a one-time charge of $2.5 million in the first quarter. Its fourth-quarter report and first-quarter guidance will be released on February 18.
 
“During these challenging times, our three priorities are preserving cash, restructuring the company to remain profitable at a lower sales level and accelerating new product development while preparing ourselves to seize the opportunities when growth resumes. Rogers has a strong balance sheet with no debt and is well prepared for these difficult times,” said Robert D. Wachob, president and CEO. 
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