Kelsey-Hayes to Cut 1,000 Jobs: Kelsey-Hayes Corp....

Kelsey-Hayes to Cut 1,000 Jobs: Kelsey-Hayes Corp. said it will begin cutting its payroll next week by more than 15%, or 1,000 hourly and salaried jobs, as it undergoes a major corporate reorganization into four business units. Chairman John F. Devaney said further declines in the automotive industry could cause the Romulus, Mich.-based vehicle parts maker to cut its 6,500-member work force even further. Devaney also cited the company’s $16.9-million net loss during the first nine months of 1989 for the cuts, most of which will affect workers in Michigan and Ohio. K-H, acquired by Varity Corp. of Toronto for $579 million late last month, was formerly known as Fruehauf.