News In Brief
Union Pacific Corp. said it will cut 2,000 jobs in the coming months. The Omaha, Neb., railroad company cited rising fuel prices, harsh winter weather, and growing signs of economic slowdown as reasons for the layoffs. The cuts come in addition to 1,600 jobs eliminated since August because of Union Pacific's 1995 merger with Southern Pacific Rail Corp. Also, 4,638 seasonal layoffs were announced earlier this month. The latest round of cuts is expected to affect both the union and management sides of the company, a spokesman said.
American Standard Cos., which makes plumbing, automotive, and air-conditioning systems, announced plans to cut 1,200 jobs. The Piscataway, N.J.-based company also said it would close a plant, although it declined to specify which one. American Standard said the steps, to be implemented during 2001, will save it $50 million annually but result in a pretax charge of about $82 million in this year's fourth quarter. The charge, however, will be offset fully by a gain from the recently announced sale of Calorex, a water-heater business. American Standard currently employs some 58,000 people in 36 countries.
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