job cuts

The U.S. auto industry seems to be picking up nicely, but the same can't be said for Europe. Ford just announced that it lost $100 million a month in the market over the third quarter, and PSA Peugeot-Citroën SA didn't fare much better. Automotive News reports that the French auto ...

Nissan hasn't posted an annual loss in nine years, but the automaker is poised to take a big hit on its 2008 earnings, and like the rest of the industry, it is scrambling to restructure. The Japanese carmaker is expected to report a $2.9 billion shortfall, prompting Carlos Ghosn and his team to ...

Over the years, when automakers had trouble selling enough vehicles to keep assembly lines cranking, they sold the leftovers to rental car companies. Unfortunately, when the world is embroiled in a nasty economic recession, people don't travel. And when nobody's traveling, the rental car industry ...

The entire auto industry is hurting right now, and financial news from Nissan today is the latest evidence to support that overused statement. Nissan announced that it's shifting profit forecast for the fiscal year ending March 31, 2009 down by 65.9% (!) to $2.62 billion. To keep inventory in line ...

For white collar workers that still work at the Ford Motor Company: congratulations, you've officially made the cut. Ford's President of the Americas, Mark Fields, announced at a media event that the Blue Oval has successfully achieved its targeted cuts, at least for now. Fields told reporters that ...

Chrysler is losing money by the truck-load, and its vehicles aren't selling, so common sense dictates that team Pentastar was going to start making cuts soon. That time is now, when Chrysler notified workers that it would be cutting 1,000 white collar workers. Chrysler spokesman David Elshoff told ...

Chrysler's deadline to hammer out a new contract with the UAW expires tomorrow. If common ground cannot be found by tomorrow morning at 11AM EST, the UAW could strike again. As if that weren't heavy enough news for the newly rebranded Chrysler LLC, it's being reported today that more job cuts are ...

The cutting and slashing continues over at FoMoCo's finance arm, Ford Motor Credit. On Tuesday they announced the closing of 59 offices within the U.S. and the elimination of 2,000 jobs from its 8,500 strong workforce in the United States and Canada. Additionally, the number of regional offices ...

Rumors brought to light by German newsmagazine Der Spiegel suggest that Volkswagen's job cuts at its western Germany factories may eventually total 30,000, 50 percent more than the 20,000 target currently on the table. Apparently, the cuts would be necessary to increase production efficiency for ...

It looks like General Motors will have no problem meeting its goal of cutting 30,000 jobs in the U.S., according to United Autombile Workers president Ron Gettelfinger.With about a week to go before GM's employee buyout offer expires, about 25,000 UAW members have signed up (around 22 percent of ...