|Automotive suppliers continue to cut payrolls in response to lower production and other financial pressures. Some say 2001 will see the most job reductions in the industry since the recession of the early 1990s. Here are some key job cuts announced or taken in 2001. They include plant closures, severances and attrition.|
|*Includes reductions taken during the fourth quarter of 2000|
Visteon already has cut 3,500 from its payroll this year, a moderate reduction in comparison with such competitors as Delphi Automotive Systems Corp. and Dana Corp.
Visteon on Friday, Oct. 19, reported a third-quarter loss of $95 million - $74 million excluding restructuring charges for its glass unit - reflecting sharp production cuts by major customer Ford Motor Co.
The fourth quarter remains uncertain, and Visteon executives are awaiting cutback decisions from Ford, Visteon's former parent.
"We're waiting to see how that shakes out, and then we'll take whatever the appropriate action is, obviously, whether it be temporary layoffs or permanent, to adjust to the schedules of the customer," Visteon President Mike Johnston said.
Other suppliers also reported dismal results last week:
Staff Reporter Gail Kachadourian and Sylviane de Saint-Seine of Automotive News Europe contributed to this report.