BRISTOL ó†Approximately 250 full-time jobs will be eliminated at Bristol Compressors as part of a "significant restructuring" at the company, Bristol Compressors officials said today.
The company said in a press release that "number of factors have made this action necessary including a sluggish recovery from the worst economic downturn since the Great Depression and the lowest level of new home sales in the past 40 years which has reduced demand for Bristolís products. In the face of challenging conditions, Bristol has developed a strong export business and continued to invest in new product development targeting high efficiency products for the residential HVAC and commercial refrigeration markets. The restructuring plan will further improve Bristolís competitive positioning and enable Bristol to continue to provide its customers with high-quality products and service."
John Wadsworth, CEO of Bristol, said, "We have been part of this community for a long time and we are taking the necessary steps to remain competitive through significant changes to our cost structure. Bristol Compressors has a reputation for providing high-quality products and services to its customers, which is a direct reflection of the quality of our employee base. We believe we have the best workforce in the industry and we will continue to be a company where all employees are focused on our customers."
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