Tomkins set for further job cuts

Engineering group Tomkins reported better-than-expected first-half adjusted operating profit yesterday and said deep cost cuts should help it through an uncertain business climate. The company said it would cut another 1,600 jobs by year-end after 3,900 cuts in the first half, and that it was on track to produce annual savings of $150m (£90.4m) by the end of 2011.