October 29, 2008 / 12:24 PM / 10 years ago

Tenneco to cut 1,100 jobs, close facilities

DETROIT, Oct 29 (Reuters) - Tenneco Inc (TEN.N) is cutting 1,100 jobs worldwide and closing four North American manufacturing facilities as part of a restructuring which it estimates will save $64 million annually, the auto parts supplier said on Wednesday.

Tenneco, which said it is responding to the worsening industry downturn, expects to record up to $60 million in charges — about $44 million in cash — related to the restructuring steps it aims to complete by the end of 2009.

In addition to the four manufacturing facilities in North America, Tenneco said it will also close its engineering operation in Dunsborough, Australia.

The combination of plant closures and other cost-cutting actions will eliminate about 500 salaried positions and 600 hourly jobs, the company said. (Reporting by Soyoung Kim, editing by Gerald E. McCormick)

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