Johnson Controls reduces headcount at headquarters

Johnson Controls Inc., Wisconsin’s largest publicly traded company, has reduced the headcount at its corporate headquarters in Glendale.

The company will not disclose the number of affected employees, who were informed Friday and Monday, said Fraser Engerman, director of global media relations.
“This is due to business reasons and the continued financial challenges that Johnson Controls faces in 2012 and then into 2013,” Engerman said. “We’ve decided that it’s necessary to continue cost reduction efforts by reducing the corporate headcount.”
Johnson Controls has offered affected employees severance packages and assistance in finding new jobs, he said.
“These are difficult decisions and we certainly understand the impact that it will have on our employees. We believe we are offering employees a severance package that is fair and supports them finding a new position outside the company,” Engerman said. “However, we need to assure our overall cost structure remains competitive, and given the revised topline revenue growth and the importance of being profitable, we are taking these cost reduction measures.”
Johnson Controls has 3,425 employees in the Milwaukee area. Of those, 511 are corporate employees who could be affected by the reduction.
The company reported record fiscal first quarter earnings and revenues in January. Net income rose to $410 million, or 60 cents per share, up from $375 million, or 55 cents per share, in the same period last year.
The firm’s second quarter earnings are scheduled to be released April 20.
Johnson Controls also announced Monday that St. Louis-based Emerson Electric Co. has acquired its Denmark-based Marine Container and Boiler business.

 

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY APRIL 15TH & SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee