Grainger, the direct marketer of industrial supplies, will lay off 300 to 400 employees across the company.
The Chicago company will also:
* Reduce employee travel expenses and relocation.
*Eliminate merit increases for all executives and salaried employees.
*Not fill open positions and reduce hours for part-time employees.
*Not pay management incentive bonuses for 2009 unless company “meets aggressive sales targets.”
Management partly attributed these layoffs to costs involved with merging the Lab Safety Supply and Grainger Industrial Supply catalogs last fall.
According to wire service reports, at least some of the laid-off employees will receive a severance package as well as benefit coverage and outplacement services.
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