Tronox Cuts Jobs, Takes Charge

Adams: Further cost-cutting sought. Tronox (Oklahoma City) says it will reduce its U.S. workforce by about 68 full-time employees, approximately 13% of its total, and suspend certain employee benefits as part of a cost-cutting initiative. The company says it expects to take a charge of $4 million-$5 million in the second quarter for severance and other termination benefits, and that it expects to yield full-year 2008 savings of about $9 million from reduced selling, general, and administrative costs. Production difficulties at Tronox’s Uerdingen, Germany...

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