C&D Technologies to cut 90 jobs

Industrial battery maker C&D Technologies Inc. said it plans to cut about 90 jobs over the next 12 months as it attempts to reduce labor costs by about $4.5 million a year.

The company said that both salaried and hourly positions would be trimmed out of its workforce of 1,400. Other actions include suspending annual salary increases.

The company expects to record severance and related charges of about $1.4 million during its most recent fourth quarter, which ended Jan. 31, through its fiscal 2010.

The Blue Bell-based company, which also has a manufacturing plant in Leola, Lancaster County, sites elsewhere, produces electrical power storage and conversion products, primarily serving the telecommunications industry.

Spokesman Joseph Crivelli said the company declined to indicate where the cuts would be made.

The company said that, in connection with the cost-cutting actions, Leonard Kiely, chief operating officer, would be leaving effective Feb. 25.

Jeffery Graves, president and chief executive officer, noting that the actions were difficult, said the company had started to see softening in some of its key core markets.

"Despite these economic challenges, as we enter the new fiscal year, we continue to remain excited about growth opportunities from our strong pipeline of new product offerings and our international growth trajectory, particularly from our China operations," Graves said.