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Article: Two Boca Raton, Fla., Business Announce Downsizing Plans.(Originated from Boca Raton News, Fla.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 26, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug. 26--Two of the city's business big boys announced plans to downsize, consolidate and try to make themselves more competitive by removing more corporate jobs from the Boca Raton pool.
W.R. Grace (NYSE: GRA) announced late last week that it was breaking up its company in a deal valued at $5 billion. By the time the consolidation is completed early next year, the company will be a leaner and meaner $1.5 billion company with a reduced presence in Boca Raton.
Meanwhile, Sensormatic Electronics (NYSE: SRM) announced the same day that it will cut 1,200 of its 6,700 jobs and reorganize its businesses to offset big losses and save face after a ...