TITLE

Momentive tightens its belt

AUTHOR(S)
McNulty, Mike
PUB. DATE
January 2009
SOURCE
Rubber & Plastics News;1/12/2009, Vol. 38 Issue 12, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Momentive Performance Materials Inc. is cutting about 250 full-time jobs within its silicone business as part of a global restructuring program. The company is also making other cost-saving moves, including eliminating merit pay increases in 2009 for U.S. salaried employees, suspending matching payments to its 401(k) savings plan, cutting an employee tuition refund program, and reducing overtime at the firm's Waterford, New Jersey, production facility.
ACCESSION #
36244433

 

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