Suppliers are bearing the brunt of OEM production cuts and plant closings.
Corp. is cutting more than 11,000 jobs, or 15% of its workforce, through plant closings and consolidation. Some 30 facilities could be affected. This after Dana already eliminated 10,000 jobs over two years.
Automotive Systems Corp. announces an 82% drop in third-quarter earnings, from $148 million in 2000 to $26 million this year. Delphi's eliminating 1,000 to 1,500 jobs by year-end, in addition to the 8,500 job cuts already made this year.
Inc. will consolidate global automotive operations into a single automotive unit, reducing its workforce by 2,400 employees. John C. Plant, formerly senior executive of TRW's Chassis Systems, will head the new unit. He says the move is not a step toward selling the automotive business.