Audio equipment maker Bose to cut 1,000 jobs, or 10 percent of staff

FRAMINGHAM, Mass. -- Bose Corp., known for its high-end audio equipment, is cutting 1,000 jobs -- about 10 percent of its work force.

The privately held company, based in Framingham, made the announcement Tuesday.

Bose spokeswoman Carolyn Cinotti cited the decline in the global economy as the main reason for job reductions.

Cinotti said the layoffs would occur in "select areas, including manufacturing" and in its Massachusetts headquarters. She declined to give other details.

Massachusetts Institute of Technology graduate Amar Bose started the company in 1964 using a $10,000 bank loan to pursue commercial and military applications for acoustics technologies.

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