The plan includes workforce reductions some 4,000 jobs will be cut worldwide and consolidations and/or closure of several plants.
The company is not disclosing the specific sites at this time.
"We are taking actions in response to a downturn in regional markets and global industry outlook,” said Jose Maria Alapont, Federal-Mogul president and CEO. “We recognize this is a difficult decision, yet these measures are required to prepare the company for the increasingly challenging automotive environment.” (Tire Review/Akron)