These initiatives are expected to improve the alignment of our cost structure with the current operating environment through the rationalization of certain manufacturing facilities and through headcount reductions. CEO Ronald M. De Feo stated: "As we look to the fiscal year 2017, we expect to see some improvements in certain end markets. We have a solid plan, and even without a modest upturn in our end markets, we believe our improving cost position in combination with a more robust and proactive commercial strategy will produce improved margins. I am optimistic about the future for Kennametal as we concentrate our efforts on highly relevant products, applications, and solutions positioned properly in the marketplace for our global customers." Kennametal Cutting 1,000 Jobs in Continuing Restructuring was originally published on American Machinist, an Endeavor Business Media partner.