Itron Chops 750 Employees

Source:  Northwest Innovation News, October 26, 2011.

Itron, the maker of smart utility meters, is restructuring its manufacturing operations, which will result in a reduction of about 750 full time positions at the firm, or approximately 7.5 percent of its employees. The firm said the move goes to “increase efficiency and lower manufacturing costs.” Itron said it expects to save $30 million annually due to the cuts, which also includes the close or consolidation of several of its manufacturing facilities. The firm said it currently has 31 global manufacturing operations, 6 of which will be shutdown or sold. The firm will take restructuring charges of $65 to $75 million over the next 15 to 18 months for the shutdowns.