Modine cuts 20 jobs at Racine headquarters
RACINE, Wis. (AP) Modine Manufacturing Co. is cutting 20 jobs at its headquarters in Racine, and at least 15 of them are management positions with the maker of heating and cooling systems and components.
In announcing the cuts Wednesday, Modine said they included about 15 percent of the management staff at its headquarters.
The company said it also will eliminate post-retirement medical benefits for Medicare-eligible participants as of Jan. 1, at an estimated savings of about $3.3 million annually.
Modine spokeswoman Susan Fisher said most of the job terminations are effective immediately, except for those taking early retirement who will likely leave at the end of October.
The company described the cuts as part of a realignment of its North American organizational structure to trim costs and support growth.
Oct 2, 2008 at 2:57 p.m.
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Healthcare provider/networks in this country are a disaster .......... how is changing who pays going to change that???
Oct 2, 2008 at 2:35 p.m.
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Cuts are made, but rarely does one hear about high-paying executives taking cuts in their salaries to trim costs. I wonder if any of the management staff at Modine are willing to live on lower salaries in order that some jobs might be saved?
Oct 2, 2008 at 12:18 p.m.
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I agree, Janesvillean. For the first time in my life (I'm 50), I am without health care coverage. I am working two jobs right now, but neither offers the benefit and I can no longer afford to make cobra payments.
Oct 2, 2008 at 11:22 a.m.
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Another company screws its retirees. The argument for universal health insurance has never been stronger.
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