MSC Industrial to Close 73 Branches, Eliminate 115 Jobs With these cost-cutting moves, the industrial distributor aims to save $15 million to $18 million annually beginning in fiscal 2022. Author
Industrial distributor MSC Industrial Supply Co. (NYSE: MSM), Melville, New York, and Davidson, North Carolina, this week said it will permanently close 73 branch offices, which have been temporarily closed due to COVID-19, and eliminate 115 jobs.
MSC said the “sales associates who previously worked in these offices will continue to work remotely through virtual customer care hubs to maintain customer relationships and personalized service in local markets. Included as part of this plan is the reduction of roughly 115 management and other positions within the commercial sales organization that interact infrequently with customers.”
20 Jan 2021 - 8:24
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The Peninsula
Doha: Qatar’s Industrial Production Index (IPI) for November 2020 stood at 91.2 points, showing a decrease of 9.8 percent compared to the previous month (October 2020). When compared on year-on-year basis, the IPI index has decreased by 10.1 percent compared to the corresponding month of 2019, data released by the Planning and Statistics Authority show.
The index of Mining sector showed a decrease by 11.8 percent compared to the previous month (October 2020), as a result of the decrease in the quantities of “crude oil petroleum and natural gas” by 11.8 percent, while “Other mining and quarrying” showed an increase by 5.6 percent. When compared to the corresponding month of the previous year (November 2019), the IPI of Mining decreased by 11.5 percent.
India s November Industrial Output Sees 1.9% Contraction
Industrial production has been hit due to the COVID-19 pandemic since March.
A labourer welds an iron pillar at a building material factory in an industrial area in Uttar Pradesh. Photo: Reuters
New Delhi: India’s industrial production contracted by 1.9% in November, official data showed on Tuesday.
According to the Index of Industrial Production (IIP) data, manufacturing sector output shrank by 1.7% in November 2020.
Mining output also declined 7.3%, while power generation grew 3.5%.
The IIP had grown by 2.1% in November 2019.
Malaysia’s Industrial Production Index (IPI) declined for the second consecutive month, after recording a 2.2% year-on-year (y-o-y) contraction in November 2020, due to a significant decrease of 15.4% in the IPI’s mining component, while electricity output fell 2.5%.