Prior year results included a charge of $93 million for plant closings.

The depression led to additional large numbers of plant closings.

"The big issue is to make sure that people affected by plant closings are looked after," he said.

The job cuts and plant closing will reduce annual costs by $16 million.

It left 120 people unemployed, and local officials fear more plant closings in the coming months.

The plant closing was another step toward adjusting production to the lower demand, it said.

Those results included a $1.5 billion charge to cover, among other things, anticipated plant closings.

Further job cuts and plant closings are scheduled to continue through 2008.

The company began job cutbacks and plant closings in those countries a year ago.

Employers with 50 to 100 employees must provide 90 days' notice of a plant closing.