Bodycote, a world-renowned specialist in hydrostatic and heat treatment, recently announced that it will lay off employees and close some factories due to weak market conditions. The company has a total of about 7,700 employees, and has laid off 700 people in the second half of last year. Now it has to cut another 10%. The layoffs include closing 31 factories operated by Bodycote in North America, Europe and Asia. Bodycote continues to move from automotive and other low-yield sectors to sectors that are highly profitable for heat treatment and metal coatings, including aerospace, power generation, offshore oil and gas fields, and defense industries, all of which show a rebound in profit decline.
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