GM-Chrysler deal to lead to thousands of layoffs
Grant Thornton LLP, an automotive consultant company, reported that a merger of General Motors and Chrysler would result in thousands of layoffs.
Grant Thornton LLP, an automotive consultant company, reported that a merger of General Motors and Chrysler would result in thousands of layoffs. The report noted that half of Chrysler’s 14 manufacturing facilities would likely close, which would lead to about 24,000 job cuts, not including suppliers who would be affected. The report also indicates that of the 26 models offered by Chrysler, 7 would be retained. The Grant Thornton report estimates that between $6 and $10 billion in costs would be eliminated because of the merger.
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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