Johnson Controls to cut 3,000 jobs, or 2.5% of workforce

Johnson Controls to cut 3,000 jobs, or 2.5% of workforce

 Diversified industrial company Johnson Controls Inc. JCI, -1.22% 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%.