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September 22, 2006

APC to cut another 330 jobs

American Power Conversion Corp. American Power Conversion Corp. announced this afternoon that it plans to cut 330 jobs, or 4 percent of its global workforce.

This is the second major round of layoffs announced this year by the West Kingston-based technology manufacturer.

In June, the company cut 66 positions in Rhode Island and 200 to 250 positions in Ireland. Over the past year, the company has struggled with high operating costs and income losses and Rodger Dowdell, its former chief executive officer, retired in August.

APC said this year's cuts, including the ones announced today, will save the company $32 million annually. The company's stock was up 21 cents at around 2 p.m. today, trading at $21.51 a share.

-- Journal staff writer Andrea L. Stape

Posted by Kate Bramson  at 2:15 PM | Permalink

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