Business news digest

REGION

Home-buying seminar requires reservations

BOARDMAN — A home-buying seminar will be at 7 p.m. Thursday at First Place Bank, 724 Boardman-Poland Road. Seating is limited, and reservations can be made by calling (330) 757-1300.

The seminar is sponsored by Real Living Volpini Realty Group, First Place Bank, Commonwealth Suburban Land Title and Bass Home Inspection. Topics to be covered include stimulus package benefits, regulations, financing, home inspections and warranties, title process and the role of the Internet.

Also, attendees will receive market forecast information on real estate in the Mahoning Valley for 2009.

Timken announces plans to cut 4,000 more jobs

CANTON — Bearings and specialty steels maker Timken Co. indicates it will cut about 4,000 more jobs by the end of this year.

Canton-based Timken said Monday it expects to end this year with 7,000 fewer employees than it had at the start of 2008, equivalent to a 25 percent reduction in the company’s work force. Timken announcements earlier this year suggested about 3,000 jobs had already been targeted.

Also Monday, Timken said its first-quarter earnings dropped 99 percent from a year ago as the global economic downturn continued to sap demand for the company’s products.

Vindicator staff/wire reports