Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Itron to Cut 9% of Jobs, Close Facilities to Boost Profit

Don't Miss Out —
Follow us on:

Sept. 12 (Bloomberg) -- Itron Inc., the Liberty Lake, Washington-based manufacturer of meters for water and energy companies, plans to cut 750 jobs, or 9 percent of its workforce, and close or consolidate several facilities to boost profitability.

Itron estimates the cuts will cost $30 million to $35 million pretax, most of which will be incurred in the third quarter, according to a filing with the U.S. Securities and Exchange Commission today. The company expects to save about $30 million a year as a result of the changes.

Itron gained 2.6 percent to $40.37 at the close in New York. The shares have declined 9.4 percent this year. The company is expected to report a second year of sales declines for 2013, according to the average of 15 analysts’ estimates compiled by Bloomberg.

Itron won two contracts in June to supply a total of 210,000 meters in India to help curb water losses and improve infrastructure.

To contact the reporter on this story: Peter Ward in New York at

To contact the editor responsible for this story: Susan Warren at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.