Friday, January 02, 2009

Next Shoe Drops in Automotives

The company mentioned used to be owned by FoMoCo; it was their parts division, IIRC.

Automotive supplier Visteon Corp. said Friday it will shift more than 2,000 workers to a four-day week and cut their pay by 20 percent as tight credit and collapsing sales cause huge industry losses.

The moves will begin on Monday and affect all 2,000 workers at Visteon's headquarters in Wayne County's Van Buren Township and 50 at a testing center in Plymouth. --AP Wire

Waiting for Delphi (the ex-GM (Delco) parts biz to announce....)


Deekaman said...

Delphi has already downsized significantly. I'm not sure if they are right-sized or capsized, but I don't see them getting much more out of the workforce.

There comes a point where layoffs have become so great that an organization loses the knowledge base to provide the necessary goods and/or services. My employer is at that point now.

Dan said...

Now, if the U.S., State and local governments can do the same.