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Stock Market & Financial Investment News

News Breaks
January 31, 2013
07:04 EDTHARHarman reducing 500 jobs, to possibly cut additional 500
Harman said it is implementing restructuring initiatives, which it expects will improve the companyís operating performance. The company will reduce approximately 500 jobs in high cost countries, resulting in annual operational savings of approximately $30M-$35M beginning in fiscal year 2014. The company expects to record a restructuring charge of approximately $30M-35M in the second half of FY13. Harman said it is also evaluating the sale or closure of a manufacturing site in Europe, which would reduce an additional 500 jobs.
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September 17, 2014
13:47 EDTHARHarman, NBA announce marketing, merchandising partnership
Harman International and the National Basketball Association announced a multiyear marketing and merchandising partnership that will make the company the official headphone, speaker, and audio partner of the NBA, Womenís National Basketball Association, NBA Development League, and USA Basketball. The new marketing and consumer products partnership will focus on Harmanís JBL brand and will provide fans with enhanced audio experiences both in the arena and at home. Harmanís products will also be featured at NBA events worldwide and integrated into league operations. Harman will provide JBL and other Harman products to players and coaches. Additionally, as early as this holiday season, Harman will produce NBA-branded audio products for fans around the world. The products will include team- and player-branded headphones and portable speakers.

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