ROGERS, CT -- Rogers Corp. will make changes to staff retirement plans and take other undisclosed restructuring measures as part of a plan to reduce spending by about $12 million a year by the first quarter of 2014.

The changes include for several initiatives that are expected to reduce costs by approximately $5.2 million annually starting in the third quarter this year. The initiatives, which Rogers did not identify, will result in one-time charges of $2.4 million, almost all of which will be recognized in the second quarter.

The printed circuit board laminates manufacturer will also freeze the pension plans of all its salaried, union and non-union hourly employees this year. Effective June 30, the company will increase contributions to the workers' 401(k) plans. The company will take a one-time charge of about $1.2 million in the second quarter, but expects to save about $6.8 million annually from the move.

In a statement, Rogers president and CEO Bruce Hoechner said, “We continue on our path to transform Rogers into a leaner organization with consistent growth and strong profitability. These announced actions will allow us to accelerate our profit improvement and continue to make investments in strategic initiatives that we believe will lead to enhanced sales, marketing, manufacturing and technology innovation capabilities that will drive the growth and profitability that we desire.”