One of the world’s largest makers of automobile exhaust systems is cutting Illinois manufacturing jobs.
Tenneco Inc. has announced its plans to cut 1,100 jobs and close four North American plants and an engineering center in Australia to reduce costs. The moves are expected to save about $64 million annually per year, according to an article by Bloomberg. This announcement comes despite a state plan to increase manufacturing jobs.
The company plans to have charges of as much as $60 million, $25 million of which will be posted this quarter. Tenneco said it eliminated 760 jobs in North America and 365 in Europe earlier this year, as jobs in the state as a whole have been declining.