Bose Corp. cuts jobs

January 20, 2009 12:54:34 PM PST
Bose Corp., known for its high-end audio equipment, is cutting 1,000 jobs. That is about 10 percent of its work force. A spokeswoman said the job reductions would occur in "select areas, including manufacturing" and in the privately held company's Framingham, Masschusetts headquarters. She declined to give other details.

The company began in 1964, when Amar Bose, then a professor of electrical engineering at the Massachusetts Institute of Technology, used a $10,000 bank loan to begin pursuing commercial and military applications for acoustics technologies he developed at the university. The company became known for making radios and noise-canceling headphones.

The company has an estimated $2 billion a year in sales.