Bankrupt supplier Delphi cutting 600 salaried jobs

[OhioChick]

Source: Reuters

19 Aug, 2008, 0300 hrs IST, REUTERS

DETROIT: Bankrupt US auto parts maker Delphi Corp said on Monday it would cut 600 salaried jobs from its electronics and safety division as part of a plan to cut the division's costs by 25 per cent.

Delphi, which employs just over 10,200 salaried workers in the United States, has cut thousands of jobs and sold off several business units since it filed for bankruptcy protection in October 2005.

The company did not immediately specify a time frame for the job cuts.

Delphi said it was responding to a sharp decline in North American vehicle production and a consumer defection from once-popular large trucks and SUVs, which typically require more interior electronics than smaller cars.

US auto parts makers are cutting production and thousands of jobs under pressure from gasoline prices, declining sales of trucks and SUVs and energy and commodity costs.



Read more: http://economictimes.indiatimes.com/International_Business/Delphi_cuts_600_salaried_jobs/articleshow/3378832.cms

[UpInArms]

1. the "trickle down" theory

in action

- it bodes badly for the world -

it doesn't work in an upwards fashion -

on downward -

the "piss on me theory" only flows to the lowest order

see

www.commondreams.org/archive/2008/08/17/11040/

for details

[baldguy]

2. Building parts for buggy whips.

Other countries are building warp reactors & we wonder why we can't catch up.

[Yavin4]

3. A Service Based Economy = A Third World Economy

A service based economy does not build up technical know how over time. The majority of service based work does not require learning anything new. Hence, we will lose our technological advantage in the world.