Published September 18, 2015 8:06am EDT | Updated September 18, 2015 10:14am EDT

Johnson Controls To Cut 3,000 Jobs, Or 2.5% Of Workforce

Diversified industrial company Johnson Controls Inc. said Friday it is planning to reduce headcount by 3,000 people, or 2.5% of its total workforce, as it continues to cut costs. The company said it expects to deliver up to $250 million in cost savings in the next two years. Shares were not yet active in premarket trading, but are down 14% in the year to date, while the S&P 500 has lost 3%.