Delphi to Eliminate 1,400 More Jobs
Bloomberg News
Delphi Automotive Systems Corp. will eliminate 1,400 more jobs, on top of 11,500 cuts announced in March, as the largest auto parts maker reduces costs and vehicle production slows.
The job reductions will cost $100 million to $150 million after taxes, the company said.
The additional salaried workers, representing less than 1% of the work force of 198,000, will leave in March and April through voluntary retirements and buyouts.
The Troy, Mich.-based company’s shares fell 76 cents to $13.39 on the NYSE.
