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Delphi plans to cut up to 8,500 jobs; $353 million quarterly loss reported
Associated Press ^
| 10-16-03
Posted on 10/16/2003 9:31:57 AM PDT by Brian S
Edited on 04/13/2004 2:44:26 AM PDT by Jim Robinson.
[history]
(Excerpt) Read more at sfgate.com ...
TOPICS: Business/Economy; Front Page News; US: Michigan
KEYWORDS: delphi
1
posted on
10/16/2003 9:31:59 AM PDT
by
Brian S
To: Brian S
2
posted on
10/16/2003 9:38:25 AM PDT
by
Truth666
To: Brian S
I imagine the 5,000 union workers are all probably in the U.S. Most likely the other 3,500 too. I wonder what percentage of their work force will be in the U.S.?
3
posted on
10/16/2003 9:40:27 AM PDT
by
Cicero
(Marcus Tullius)
To: Brian S
They can go over to IBM and it still wouldn't be enough, they'll be hiring 10,000
4
posted on
10/16/2003 9:42:55 AM PDT
by
ladtx
( "Remember your regiment and follow your officers." Captain Charles May, 2d Dragoons, 9 May 1846)
To: Brian S
5
posted on
10/16/2003 9:44:36 AM PDT
by
ladtx
( "Remember your regiment and follow your officers." Captain Charles May, 2d Dragoons, 9 May 1846)
To: Brian S
Wadda mean? According to other posts, prosperity is just around the corner.
I guess the couple thousand new jobs recently created are for door-greeters at the Great Wall-Mart.
To: Brian S
Delphi employs 187,000 people overall
worldwide.
What are the 'numbers' per each country?
China/India included?
7
posted on
10/16/2003 9:48:15 AM PDT
by
maestro
To: ladtx
IBM employs 13,500 people in the Triangle. There were no breakdowns immediately available on whether any of IBM's 10,000 new jobs would be in the Raleigh-Durham area.More likely Bangalore India.
To: Walkin Man
More likely Bangalore India. Where did you get that information?
9
posted on
10/16/2003 9:51:07 AM PDT
by
ladtx
( "Remember your regiment and follow your officers." Captain Charles May, 2d Dragoons, 9 May 1846)
To: ladtx
Two IBM executives speaking to Big Blue employees around the world in a March 2003 teleconference said that "IBM needed to accelerate its efforts to move white-collar, often high-paying, jobs overseas even though that might create a backlash among politicians and its own employees," the Times reported.
During the call, the IBM executives said that three million service jobs were expected to shift to foreign workers by 2015, and that IBM should move some of its jobs now done in the United States, including software design jobs, to India and other countries, the Times reported.
http://djurdjevic.com/Bulletins2003/NFlash_09_IBM_India.html
10
posted on
10/16/2003 10:02:23 AM PDT
by
Afronaut
(Live as free men, but do not use your freedom as a cover-up for evil.)
To: Afronaut
How long before these "crackerjack" Indian IT types realize they are worth more than the $6000 a year they are being paid and start asking for more or better yet why not just move to the land of big SUV's?
11
posted on
10/16/2003 10:19:34 AM PDT
by
ladtx
( "Remember your regiment and follow your officers." Captain Charles May, 2d Dragoons, 9 May 1846)
To: Brian S; clamper1797; sarcasm; BrooklynGOP; A. Pole; Zorrito; GiovannaNicoletta; Caipirabob; ...
Ping on or off let me know
12
posted on
10/16/2003 10:20:48 AM PDT
by
harpseal
(stay well - Stay safe - Stay armed - Yorktown)
To: Afronaut
Just like the dot.com bubble that burst I think we may be heading for an "overseas IT" bubble bursting.
13
posted on
10/16/2003 10:22:54 AM PDT
by
ladtx
( "Remember your regiment and follow your officers." Captain Charles May, 2d Dragoons, 9 May 1846)
To: maestro
"What are the 'numbers' per each country?"
Taken from Delphi's 2002 10K, these are the number of union employees the comapny has in each country:
United States 43,400
Canada 450
Mexico 63,500
Europe 29,050
South America 5,400
Asia-Pacific 750
Total 142,550
That leaves about 44,000 non-union which they don't specify. Note however, Delphi wants to eliminate high paying jobs, not low paying ones. So I expect the the jobs eliminated will largely come from the US and Europe.
14
posted on
10/16/2003 10:45:55 AM PDT
by
green iguana
(I know he looks mean, but don't worry about my dog. He'll run away when I fire.)
To: green iguana
Thank you!
Very interesting.
Canada 450 .......NAFTA failure?
15
posted on
10/16/2003 10:51:32 AM PDT
by
maestro
To: maestro
"Canada 450 .......NAFTA failure?"
Not sure why this is so low, since GM has quite a production presence in Canada, with about 26,000 employees there. Don't know if Delphi closed facilities after it was spun out, or if it never took them on. This, however, I would say:
Mexico 63,500 ...NAFTA success (for Mexico and for cheaper cars in the US.)
16
posted on
10/16/2003 11:09:31 AM PDT
by
green iguana
(I know he looks mean, but don't worry about my dog. He'll run away when I fire.)
To: maestro
More info from Delphi's press release (don't know why I just didn't look here first...):
"Delphi said that it will reduce its work force by up to 8,500 jobs and also close facilities in Kansas, Alabama and Michigan."
"Delphi plans to reduce what it calls its 'U.S. high wage employees,' or its hourly work force by 15%, or up to 5,000 jobs. It also plans to cut up to 3,000 non-U.S. jobs and its U.S. salaried work force by 500 jobs."
17
posted on
10/16/2003 11:22:09 AM PDT
by
green iguana
(I know he looks mean, but don't worry about my dog. He'll run away when I fire.)
To: ladtx
Sounds good here. These managers that started this practice need a new angle to make themselves worthwhile again. give it a few years.
18
posted on
10/16/2003 11:27:57 AM PDT
by
Afronaut
(Live as free men, but do not use your freedom as a cover-up for evil.)
To: Walkin Man
I guess the couple thousand new jobs recently created are for door-greeters at the Great Wall-Mart. I was at the local mall yesterday to pick up a few things, and saw this humungous line leading out one of the entrances. Out of curiosity, I followed this to the front to see if somebody was giving away money or something.
See's Candies is hiring sales people for the upcoming holiday season. The posting for for three (3) part-time counter sales people. There had to be about 1,000 people in line, just as a guess.
Wow! That's some recovery.
19
posted on
10/16/2003 1:01:28 PM PDT
by
Euro-American Scum
(A poverty-stricken middle class must be a disarmed middle class)
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