- Company has permanently laid off approximately 350-400 hourly and salaried workers, which will help to reduce the Company's overhead and operating expenses to a level that is more in line with current and planned sales and production levels in the automotive and fire protection industries.
- salaried workforce reductions will result in a decrease of approximately $6M in the Company's overhead and operating expenses on an annualized basis. Approximately 60 percent of that $6M expense reduction will impact the Company's overhead expenses, and the other 40 percent will impact the Company's operating expenses, primarily in the engineering, research and development areas.

Other headlines for [GNTX]

• GNTX 12/5/2008 09:00am
  Gentex Corp Guides Q4 Rev -25% v -15% previously forecast, cuts workforce- Company has permanently laid off approximately 350-400 hourly and salaried workers, which will help to reduce the Company's overhead and more...
  
• GNTX 11/21/2008 05:18pm
  Gentex Corp Awarded DoD contract with max value of 67.3M for advanced combat helmets
  

Technology sector headlines

• ASM.NV Today 05:26am
  ASM International CEO: Vertical furnace production is difficult at low margins - conf call- Seeks to increase front-end profitability
  
• SIE.GE Today 04:08am
  Siemens AG Price target raised to €51 from €46 at WestLB
  
• MOR.GE Today 03:17am
  Morphosys Commerzbank Cuts MOR.GE to Hold from Buy
  
• TRIL.UK Today 02:58am
  Thomson Reuters Plc Update: CFO notes that firm expects Quarterly and Annual revenue growth to slow on the back of global financial crisis- Sees professional unit growth to slow throughout 2009 - Have seen drop in more...
  
• 6762.JP Today 02:40am
  TDK Corp Ratings cut by S&P to "A+" from "AA-"- These downgrades reflect deterioration in TDK's financial base due to an increase in its financial burden stemming from the EPCOS acquisition, as well as the more...