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Newell Rubbermaid has decreased its fourth-quarter profit and sales forecasts due to the deep slump in the global economy. The company said it would cut up to 10 percent of non-manufacturing jobs.
Newell makes Rubbermaid storage products, Sharpie pens and other household and office items. The company has recently frozen wages and salaries and said it would temporarily halt some production.
Newell said it would cut 8 percent to 10 percent of its salaried jobs.
The job cuts represent about 800 to 1,000 professional and managerial positions, a spokesman said.
Newell also said that starting on January 1 there would not be any pay increases for the entire year.
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