American Standard to Cut Staff, Shut Plant

American Standard Cos. said it plans to cut 1,200 jobs worldwide, or about 2% of its work force, and close one of its plants as part of a plan to improve profit. The company said the cuts, to be implemented next year in all three of its businesses, will save $50 million annually but result in a pretax charge of about $82 million in this year’s fourth quarter. A gain from the recently announced sale of the Calorex water heater business to Mexico’s Grupo Industrial Saltillo will fully offset the charge, it said. The Piscataway, N.J.-based company, which makes Trane air conditioning systems, American Standard plumbing products and WABCO automotive systems, employs 58,000 people in 36 countries. American Standard shares rose $2.13, closing at $47.50 on the NYSE.