Specialty alloy steel and bearings maker Timken Co. sees gloomy future and cuts 700 jobs
Anthony Spirac
Sep. 29, 2006

The future is gloomy to the company as they revised its third-quarter and full- year forecasts sharply downward and cut 700 jobs. The stock took a nose dive. It fell 9.2%.

The company is involved in specialty alloy steel and bearings manufacturing. The gloomy picture comes from slow auto sector. The auto sector recession always precdes recession in the main street.

Specialty alloy steel and bearings maker Timken Co. sees gloomy future and cuts 700 jobs
Anthony Spirac
The future is gloomy to the company as they revised its third-quarter and full- year forecasts sharply downwards, cut 700 jobs and stock fell 9.2%.
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