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Cable manufacturer Belden will cut 1,800 employees, or 20 percent of its workforce, and consolidate some manufacturing operations due to weaker demand for its products.
St. Louis, Missouri-based Belden expects to incur one-time charges of between of up to $65 million related to the restructuring.
The manufacturer expects the changes will provide annual cost savings of about $50 million.
In October, Belden, which makes signal transmission products such as cables and connectors, reported a drop in third-quarter profit.
Belden is a maker of signal transmission products, primarily for the entertainment, residential, industrial and security markets.