2,095 Articles
Aston Martin CEO Andy Palmer to leave in favor of AMG chief Tobias Moers

Reports suggest an official announcement will be made on Tuesday

The luxury carmaker said in an emailed statement that it is reviewing its management team but declined to comment on Palmer's fate. Palmer and Germany's Daimler AG , which owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines, also declined to comment.

Uber to focus on core rides, deliveries as it cuts thousands more jobs

3,000 on top of 3,700 earlier this month

Uber will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, Khosrowshahi said, adding that the company plans to reduce investments in several "non-core projects." Khosrowshahi did not directly mention these businesses in his email and a spokesman declined to comment beyond the email. Khosrowshahi said Uber must establish itself as a self-sustaining enterprise no longer in need of outside capital, calling the company's food delivery business Uber Eats the "next

GM's Cruise autonomous-car unit lays off 160 employees

That's roughly 8 percent of the division's workforce

F1's Carlos Sainz Jr. will go to Ferrari, Daniel Ricciardo to McLaren

Charles Leclerc is now Ferrari's No. 1 with Vettel's departure

Musk says he will move Tesla out of California after dispute over reopening

'Frankly, this is the final straw'

"If we even retain Fremont manufacturing activity at all, it will be dependen (sp) on how Tesla is treated in the future," he wrote on Twitter, referring to the facility in the San Francisco Bay area that is Tesla's only U.S. vehicle factory. Musk also tweeted about suing Alameda County, California, after its health department said the electric carmaker must not reopen the Fremont factory as local lockdown measures to curb the spread of the coronavirus remain in effect. Musk had told employees

Automakers reveal their latest restart plans

Some are moving ahead, others are postponing

A Ford joins the Rivian board

The move should further cement relations between Ford and the EV startup

Geely's Volvo Cars lays off 1,300 in Sweden as coronavirus slump takes hold

Volvo needs cash in the crisis, just like everybody else

Volvo Car Group, owned by China's Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic raised the urgency of lowering structural costs. The carmaker, which has 24,000 staff in Sweden excluding some 2,000 consultants, said in a statement the measures also included a continued review and reduction of consultancy contracts but would not affect its manufacturing operations. CEO Hakan Samuelsson said the coronavi

Hertz amasses $17B in debt, lays off 10,000 as car rental demand vanishes

Stock value plummets as coronavirus hits industry, with no end in sight

Hertz Global Holdings Inc is working with debt restructuring advisers to explore options for shoring up its finances after the coronavirus pandemic killed demand for car rentals, people familiar with the matter said on Thursday. The Estero, Florida-based company, whose largest shareholder is billionaire investor Carl Icahn, is reeling from the impact of the pandemic on global travel. Hertz has enlisted restructuring experts at law firm White & Case LLP and investment bank Moelis & Co to help i

Clean energy industry sheds 106,000 U.S. jobs, erasing a year of gains

Setback for a sector that has been growing fast

The job loss estimates are based on an analysis of Department of Labor unemployment claims published on Wednesday by BW Research for clean energy business groups E2, the American Council on Renewable Energy and E4TheFuture. The clean energy sector, as defined in the report, includes solar and wind company workers, electricians, roofers and plumbers who install energy-efficient products, and factory employees who make everything from hybrid cars to LED lighting to efficient appliances. The anal

Japan auto industry vows to protect jobs amid coronavirus crisis

Japan Automobile Manufacturers Association fund will help those laid off find jobs

Toyota Chief Executive Akio Toyoda promised Friday that the Japanese auto industry would seek to protect jobs worldwide as it endures the coronavirus pandemic. Toyoda, speaking as head of the Japan Automobile Manufacturers Association, said he was worried the Japanese economy might be destroyed before the world can win the fight against the sickness caused by COVID-19. “If our hospitals get overloaded to the point of devastation, then Japan may never be able to recover,” Toyoda said on an onli

Tesla will furlough workers and cut salaries due to coronavirus

The automaker currently plans to resume normal operations on May 4

Tesla said it planned to resume normal operations on May 4, barring any significant changes, according to an email sent to U.S. employees by in-house counsel Valerie Capers Workman, which was viewed by Reuters. Tesla did not immediately respond to a request for comment. The coronavirus pandemic has slashed U.S. demand for cars and forced several other automakers to furlough U.S. workers.

Honda, Fiat Chrysler won't restart U.S., Canada auto production until May

Honda furloughs 18,400 workers, whose pay ends Sunday

Honda Motor Co and Fiat Chrysler Automobiles NV said on Monday they hope to restart U.S. and Canadian auto production in May amid the ongoing coronavirus pandemic. Fiat Chrysler said Monday it "intends to progressively restart its U.S. and Canadian manufacturing facilities beginning May 4." U.S. President Donald Trump last week extended the guidelines aimed at slowing the spread of the coronavirus to April 30.

Uber's Work Hub connects out-of-work drivers to delivery and production jobs

The coronavirus crisis has exposed the vulnerability of gig workers hired as independent contractors

Beginning on Monday, drivers can find job listings of other companies in a new section of their app, Uber said in a blog post https://www.uber.com/blog/work-hub. Uber also said it would reach out to the more than 240,000 of its registered drivers holding a commercial license to connect them to logistics companies for employment and contract opportunities. Uber Chief Executive Officer Dara Khosrowshahi said in a statement the company will continue to expand economic opportunities in the coming

Tesla cuts contractors from factories in California and Nevada

Tesla delivered 88,400 vehicles in the first quarter of 2020

The electric carmaker is axing contractors at both its vehicle assembly plant in Fremont, California, and at its Gigafactory outside of Reno, Nevada, according to the CNBC report https://cnb.cx/2UZf5EH. "It is with my deepest regret that I must inform you that the Tesla factory shutdown has been extended due to the COVID-19 pandemic, and as a result, Tesla has requested to end all contract assignments effective immediately," Balance Staffing, a workforce management company, said in a memo sight

GM's redesigned full-size 2021 SUVs face delay over coronavirus

Escalade, Yukon, Tahoe, Suburban, with work on other vehicles paused

General Motors told suppliers on Monday it is postponing work on at least half a dozen future models to conserve cash during the coronavirus pandemic and suggested it could delay the planned launch in late April of its highly profitable large sport utility vehicles. GM previously told suppliers that it planned to begin production in late April of the redesigned 2021 Cadillac Escalade, GMC Yukon, Chevrolet Tahoe and Suburban full-size SUVs at its Arlington, Texas, plant after winding up producti

Why U.S. gig economy workers need an act of Congress to get jobless pay

Unemployment benefits are typically reserved for full-time employees of traditional businesses

VW burning through $2.2 billion a week with factories closed by coronavirus

Dozens of plants are offline, and car sales are down 40% in March

Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF. Diess told the Markus Lanz talkshow that the German company, which employs 671,000 people worldwide, was not making any sales outside China and was looking for ways to resume production elsewhere that wouldn't endanger its staff. Demand in China is picking up

/ 100