Hardinge cuts cost in response to global economic conditions

Hardinge Inc., a provider of advanced material-cutting solutions, has reduced production hours at its Taiwan and China manufacturing facilities, in response to the current lower order volumes. In addition, the company has made cuts in its discretionary spending in order to reduce future SG&A expenses. "The crisis in the functioning of the global financial markets appears to be affecting the ability of our customers to obtain and finalize credit and to make final order placement decisions," said Richard L. Simons, president and CEO. "This market paralysis is making it very challenging for Hardinge, along with other companies, to determine what level of business activity to expect for the remainder of 2008, as well as during 2009," he added.Mercurial X Proximo