Tyco to Cut Jobs and Shut Down Plants

August 13, 2001 by Jeff Shepard

Tyco International Ltd. (Bermuda) plans to cut nearly 11,300 jobs while closing or consolidating nearly 300 plants in connection with acquisitions made during the current and previous fiscal years.

In connection with the 2001 acquisitions, which include, among others, Lucent Technologies's (Allentown, PA) power systems division, Tyco plans to cut 8,394 jobs and close 225 plants. US operations will bear the brunt of those reductions.