Layoffs Reported In Davidson After Ingersoll Rand Splits In 2
Layoffs have begun in Davidson after a merger and spin-off that split big industrial employer Ingersoll Rand into two companies.
A spokeswoman would not say now many employees are affected, but said last weekend's deal "required difficult decisions" on personnel to help reach promised cost savings. The company said Monday it hopes to eliminate $250 million in expenses through the merger.
On Saturday, Ingersoll Rand spun off and merged its industrial equipment division with Gardner Denver of Milwaukee. The merged company took the Ingersoll Rand name, and will remain headquartered in Davidson. It makes air compressors, pumps and other industrial equipment.
Laid-off employees are getting payouts, spokeswoman Misty Zelent said in an email. "We are committed to supporting our departing employees with above-market severance packages, on-site employee assistance programs, (and) job placement services," she said.
The layoffs do not affect the heating and cooling business, now known as Trane Technologies, according to a Trane spokeswoman.
The state Department of Commerce says it has not received a notice of any layoffs. State law requires large employers to report plant closings and large layoffs.
Ingersoll Rand now has about 750 employees in Davidson, while Trane has 1,100. Pre-separation totals weren't immediately available.