Tenneco to Fire Workers as Demand Slows

Tenneco Automotive Inc. said it will fire as many as 405 salaried employees, or 1.8% of its work force, as the biggest maker of automotive shock absorbers struggles with reduced parts demand. The cuts will result in charges of as much as $14 million this year. The maker of Monroe shocks and Walker mufflers said it will eliminate 215 jobs immediately, mostly in Monroe, Mich., and at its headquarters in Lake Forest, Ill. The cuts represent about 8% of salaried workers and will save about $27 million a year. Other auto parts makers recently have cut jobs as auto makers build fewer cars because of lower demand. Tenneco shares, which have declined 60% in the last 12 months, rose 4 cents to close at $3.95 on the NYSE.

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