Tyco includes Boca's ADT in plan for layoffs, job shifts to overseas

[UpInArms]

http://www.sun-sentinel.com/business/local/sfl-zadt19feb19,0,98998.story?coll=sfla-business-front

Boca Raton-based ADT Security Systems will be part of an overall integration of services at parent Tyco International Ltd. that will involve continued layoffs, real estate consolidation and moving major manufacturing overseas.

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Tyco's three-year restructuring plan involves reducing the number of manufacturing plants, real estate and employees. The conglomerate estimates annualized savings at $150 million.

Tyco is about 40 percent through a previously announced plan to trim 5,000 jobs, Robinson said.

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Shares of Tyco, based in Bermuda and run from West Windsor, N.J., have climbed 10 percent this year and closed Wednesday at $28.80, off 45 cents, or 1.5 percent.

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