FORT SMITH, Ark. (AP) -- Baldor Electric Co. says it will cut 900 positions by June, a move that will save the company $30 million in 2009.
In a regulatory filing Monday, the Fort Smith-based company says it expects to cut 475 jobs this month and 425 by June.
Baldor has about 1,500 workers in Fort Smith and about 8,300 employees overall.
The company says it hopes to trim about $80 million in costs next year, including cuts to overtime, discretionary spending and interest expense.
Baldor markets, designs and manufactures industrial electric motors, power transmission products, drives and generators.
In a meeting with investors Monday, Baldor President and Chief Operating Officer Ronald Tucker said the jobs should be eliminated through retirement and attrition.