Rockwell Automation to Lay Off 3% Of Workers
About 900 employees will be let go; how many Wisconsin workers not detailed.
Gretchen Brown/WPR
Milwaukee-based Rockwell Automation will lay off 3 percent of its global workforce after announcing that sales have declined so far this year.
That means roughly 900 employees will be cut, but it’s unclear how many Wisconsin employees will be laid off.
In addition to its Milwaukee headquarters, Rockwell Automation has locations in Ladysmith, Mequon, and Richland Center.
The company had projected sales to grow between 0.5 percent and 6.5 percent, but now expects losses between 4 and 6 percent for the year.
Total sales in the second quarter of 2024 have declined by 6.5 percent, Rockwell CEO Blake Moret said on an earnings call May 7. He said the company is “accelerating actions to bring costs in line.”
“We will save $100 million in the second half of this year from accelerated actions being taken now, creating a beneficial starting point for fiscal year ’25,” Moret said.
“We will see incremental savings of $120 million next year from these actions alone, plus a larger amount of additional savings from the more comprehensive program targeting sourcing, manufacturing, and SG&A (selling, general and administrative expenses),” he said.
The company also said executives will not receive bonuses.
As of the end of September 2023, the company reported having 29,000 employees, 10,000 of which were in North America, according to its filing with the Securities and Exchange Commission.
A representative of the company did not address how many Wisconsin employees will be cut in a statement to WPR.
“The reductions will impact employees across the company’s global footprint,” communications manager Tami Hughes said.
“These actions are difficult but necessary to provide the right foundation for Rockwell’s future growth and financial performance,” she said. “Rockwell is committed to treating all impacted employees with dignity and respect and is providing transition packages.”
Milwaukee-based Rockwell Automation to lay off 3 percent of workforce was originally published by Wisconsin Public Radio.
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