Building products maker Masco reducing work force by 8,000 jobs

Masco Corp., one of the nation's largest producers of home improvement and building products, expects it will have slashed 8,000 jobs from its U.S. work force, or about 16 percent of the total, by the end of its first quarter, its top executive said Wednesday.

Richard Manoogian, chairman and chief executive officer, made the comment during a teleconference with industry analysts on which he discussed the Taylor, Mich.-based company's report of a big loss for its fourth quarter.

The job cuts began late last year but it was unclear how many remain to be made.

"We expect to do more of that as well as reduce other costs," Manoogian said.

Masco, maker of Delta and Peerless faucets and Behr paints, reported a net loss of $187 million, or 49 cents per share, during the three-month period that ended Dec. 31 compared with a profit of $173 million, or 41 cents per share, during the last quarter of 2005.



http://nwitimes.com/articles/2007/02/15/business/business/docc309738daa2bb80086257282007dd482.txt

sinking so far and so fast. You, bet it`s scary.

mcmansion aspirants and zero interest rates has run up against the reality of low to no wages and belief in the politics and management disability of publiclown wierdos. I suspect the sudden mass enthusiasm for acquiring all sorts of other companies to operate under one masthead will be considerably dampened as the US slides deeper and deeper into recession and depression.

People will never never learn.

and it was made in America.

With the big 3 automakers facing bankrupcy, it migh not be long before they close up shop and shift all of the work to China. Now this as well. How many body blows does it take to bring on the depression that is looming? We don't make anything here anymore, and our treasury is empty. Not a bright future is it?

What gets me is what are the Democrats doing about it. Nothing so far.