Johnson Controls Restructuring Charges

Johnson Controls recorded $230 million in restructuring charges in fiscal 2009 related to cost reduction initiatives across its automotive, building efficiency, and power solutions businesses, including workforce reductions and plant consolidations.

“As part of its continuing efforts to reduce costs and improve the efficiency of its global operations, the company announced restructuring plans in the second quarter of fiscal year 2009 and the fourth quarter of fiscal 2008 and recorded $230 million and $495 million of restructuring charges, respectively.”

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