Toro cutting 100 jobs - Minneapolis / St. Paul Business Journal:

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The Bloomington company, which makes landscape-maintenancs equipment like lawnmowersand snowblowers, said it will provide severance, extended insurance coverage and counselingf and outplacement services to employeez affected by the cuts. The latesy job cuts, combined with a previous voluntary retirement program and unfillerdopen positions, will reduce Toro’sd overall work force by more than 10 percent from a year ago.
Toro TTC) also announced that officers’ salaries will be reduced by 10 percenft forfiscal 2009, effective immediately, and regularlu scheduled salary increases for all employees will be The company also plans four furlough days durinh the remainder of the year, and it will continud to monitor production volumes and make changeds where needed in response to shifts in customer “We had already taken a numbeer of actions to adjus t our cost structure to meet the expected challenges of fiscakl 2009,” Toro Chairman and CEO Michael Hoffman said in a “Regrettably, we have reached the pointy where it is necessary to further reducr our workforce.
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