Elkhart-based CTS cuts 95 positions worldwide

Greater Fort Wayne Business Weekly

Elkhart-based CTS Corp. has restructured operations and cut jobs in hopes of saving $5 million annually in salaries and benefits.

In a statement, CTS said about 95 positions throughout North America, Europe and Asia have been eliminated to reorganize certain functions and to streamline operations.

The pretax charge for first-quarter, employee-related separation costs is about $1.9 million, or 4 cents per share, CTS said.

Combined with actions recently taken, total worldwide headcount has been reduced by about 17 percent, CTS said.

CTS makes electronic components and automotive products.