Mexican Media Brands
Global Auto Industry Shedding at Least 38,000 Jobs
The world’s major carmakers have announced plans within the past six months to trim at least 38,000 hourly and salaried jobs, and more cuts may be on the way, says Bloomberg News.
#workforcedevelopment
Share
The world’s major carmakers have announced plans within the past six months to trim at least 38,000 hourly and salaried jobs, and more cuts may be on the way, says Bloomberg News.
The reductions are being made in an effort to stay ahead of the cost of new technologies and the likelihood of slower sales ahead in China and the U.S.
But Bloomberg notes that the trade war between those two countries could affect hundreds of thousands of additional jobs in the U.S. alone. One analyst says that Ford Motor Co., which is trimming 7,000 white collar positions, could eliminate as many as 23,000 more hourly and salaried jobs if the company’s revenue drops 5%.
Worldwide light-vehicle sales shrank last year by 0.5%, the first year-on-year decline since 2009, according to LMC Automotive. The auto market forecasting firm predicts a 1% uptick in volume this year, but some observers anticipate another slight drop.
RELATED CONTENT
-
FCA Cuts 1,300 Jobs at Small-Car Plant in Michigan
Fiat Chrysler Automobiles NV is eliminating one of two production shifts at its small-car factory in Sterling Heights, Mich., because of slumping sales.
-
On a Baby Bugatti EV, a Hybrid Boat and the Future of Works
On the diminutive electric Bugatti you didn’t know you wanted; interesting predictions about apps, electrification and data; a Scandinavian hybrid tourist boat development; the VW Arteon sedan; and employment considerations in car plants as a result of electrification
-
Yazaki’s Bo Andersson Expands Job Role
Yazaki Corp. has expanded the management role of industry veteran Bo Andersson, who it hired to head its European business last July, to include North and Central American operations.