Weak markets force General Cable restructure

Jul 10, 2014 | 05:24 PM | Saranya Kapur

Tags  restructuring, General Cable, job cuts, Brian Robinson, Gregory Kenny, Southwire Co., copper, Stuart Thorn utilities market

NEW YORK — A "lack of consistent momentum in utility and construction spending," as well as underperforming assets abroad, were behind General Cable’s decision to restructure its business, executive vice president and chief financial officer Brian Robinson said during a conference call July 10.

Utilities and nonresidential spending, which are more important to the company’s business than industrial and residential construction, have seen weak demand.

General Cable recently announced plans to restructure, including cutting 1,000 positions worldwide (amm.com, July 9). ....

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