SAN JOSE -- Flextronics International, in a statement issued today, said it would cut an undisclosed number of jobs and close certain plants as company tries to rebound from a global slump. Flextronics' holdings include Multek, a global PCB supplier.


The company will take a pretax restructuring charge of $220 million to $250 million in its fiscal 2009 and 2010 years, including $190 million to $210 million to be booked in the fiscal year ending March 31. The moves are expected to saving $230 million to $260 million a year.

Flextronics did not disclose which plants would be shuttered or the number of employees that would be laid off. It is unclear whether the layoffs referred to by Flextronics include the recent reported closing of its Kuala Lumpur factory, which will reduce the company's headcount by nearly 1,400. The Daily Herald is reporting Flextronics has filed documents in Illinois indicating plans to close operations in Elk Grove Village by May, a move that would cost 113 jobs.

MIDLAND, MI – In a deal that went down to the wire, Dow Chemical Co. will purchase Rohm & Haas for just over $15 billion. The two companies reached the agreement on the day they were scheduled to go to court over the delayed merger.
 

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