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Tyco Electronics To Cut Additional Jobs

Electronics and telecommunications components maker said it told a 'substantial' number of employees that they are losing their jobs, but won't say how many.

HARRISBURG, Pa. (AP) -- Tyco Electronics Ltd., which makes electronic components, undersea telecommunications systems and wireless equipment, said Wednesday it is laying off more employees across the United States as part of a broader reduction in its global work force.

Tyco spokesman Mike Ratcliff would not say how many employees were told they were losing their jobs. Most lost their jobs immediately, while some will stay on for a time during a transition period.

The number is "substantial" and affects offices and manufacturing plants in many areas, including central Pennsylvania, Greensboro and Winston-Salem in North Carolina and Menlo Park and Redwood City in California, he said.

"We see the balance of our fiscal year being quite challenging and we need to right-size our business," Ratcliff said.

Tyco's share price was up 38 cents, or 4.3 percent, to $9.25 in trading Wednesday afternoon.

Tyco, which split in 2007 from diversified manufacturer Tyco International Ltd., has seen a steep drop in demand accompanying the global economic plunge.

In January, it reported that first-quarter revenue dropped 21 percent to $2.81 billion from $3.56 billion, while total orders slid 35 percent from the prior-year period.

It has a goal of shedding 20,000 jobs globally by the end of September, through layoffs, attrition and the elimination of temporary and contract workers, Ratcliff said. It employed 96,000 at the beginning of its fiscal year in October.

Ratcliff said he did not know how much of the 20,000 reduction the company has achieved.

In January, Tyco announced it was cutting 2,500 jobs in North America and closing two plants in south-central Pennsylvania.

In the fall, Tyco announced job cuts in Europe and Asia, as well as the closure of three plants -- in Burga, Spain and Val DeReuil and Chapareillan, France -- that make electrical components for the automobile industry, Ratcliff said.

The company is based in Pembroke, Bermuda, but maintains its operational headquarters in Berwyn, Pa.