Auto suppliers announce job cuts, plant shutdowns

Dec 22, 2008 | 02:10 PM | Michael Cowden

Auto suppliers had a lot of bad news last Friday—and a few of them chose to send it out in the waning minutes of the business day.

Take vehicle parts supplier Federal-Mogul Corp., which plans to further consolidate, "downsize" and close more locations. The company also said it will slash its work force by roughly 10 percent—or 4,600 people.

The Southfield, Mich.-based company in a release late Friday declined to name specific locations that would be affected by the cuts, which will begin in the first quarter of 2009. It said the restructurings would likely cost roughly $80 million through 2009.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results