Square D lays off 31 workers
In an e-mail sent to employees, plant manager Mark Henning said the company needs to reduce its workforce to align production with its projected 2009 sales.
Square D, which is owned by the French company Schneider Electric, manufactures circuit breakers.
The layoffs are expected to go into effect January 5.
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OPINION Rewiring Indian electricity
NEW DELHI - India's electricity industry is in a financial and political tangle.
Power producers sit on thousands of megawatts of underutilized plant, while consumers face frequent power cuts, both planned and unplanned.
Financially troubled generators struggle to escape insolvency proceedings. The state-owned banks that have mostly financed power utilities fear that debts of troubled utilities totaling 1.74 trillion rupees will soon go bad.
Aggressive bidding for supply contracts and slower-than-expected demand growth is the root cause. The problems are compounded by difficulties in securing coal and other fuels, high transmission losses, electricity theft and cash-starved distribution companies.
But India's 36 state and union…
