FRAMINGHAM, Mass. (AP) -- Bose Corp., known for its high-end audio equipment, is cutting 1,000 jobs -- about 10 percent of its work force.
"We have been staffed for a growing economy, not a global recession," Bose spokeswoman Carolyn Cinotti said in a statement Tuesday. "As a global company, we are responding to these challenges."
Cinotti said the job reductions would occur in "select areas, including manufacturing" and in the privately held company's Framingham headquarters. She declined to give other details.
The company began in 1964, when Amar Bose, then a professor of electrical engineering at the Massachusetts Institute of Technology, used a $10,000 bank loan to begin pursuing commercial and military applications for acoustics technologies he developed at the university. The company became known for making radios and noise-canceling headphones.
The company has an estimated $2 billion a year in sales.