Chrysler goes dark
Automaker to shut all North American plants Friday for one month
In the midst of the controversy over whether America’s Big 3 automakers should receive federal loan assistance, Chrysler announced Wednesday that it would close all North American plants for one month beginning Friday. Plants are not scheduled to reopen until Jan. 19, putting 46,000 workers out just as Christmas arrives.
The move is seen as a way to stem the losses at the beleaguered automaker. While GM announced it would reduce production by 30% and Ford would add another week to its annual holiday furlough, the move by Chrysler is the most severe cut to date among U.S.-based automakers.
Chrysler sales are down 47% as the global economic crisis deepens. Chrysler officials blame some of the sales shortfall on the lack of available credit in the market.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey