News In Brief

By Compiled from wire service reportsRobert Kilborn and Stephanie Cook

April 23, 2001

Honeywell International announced it will lay off 6,500 employees, or 5 percent of its global work force. The Morristown, N.J.-based company makes aerospace, automotive, power, and transportation products, performance materials used in semiconductors, polymers for electronics, and carpet fibers. The layoffs will not affect Honeywell's acquisition by General Electric. That $41 billion deal would create one of the world's largest industrial companies.

With "no signs of a short-term turnaround" in view, the Swedish mobile-phone giant Ericsson announced 12,000 more layoffs, its third such move this year. The company also said it would make "a substantial reduction" in outside consultants under contract - currently about 15,000.