Tuesday, August 19, 2008

The Delphi Oracle

But that economy isn't so bad, the MSM business press keeps telling us.

The shit shovel must get tiring, because catching it all is exhausting in and of itself.


"Delphi will cut 600 salaried employees" by Associated Press | August 19, 2008

NEW YORK - Delphi Corp. said yesterday that its electronics and safety division will lay off about 600 of its 3,200 US salaried workers, blaming a steep drop in automaker demand for its components.

Delphi spokesman Milton Beach said the job cuts are part of a plan to cut the division's total costs by 25 percent as a result of the dramatic decrease in North American vehicle production this year.

The bulk of the jobs cuts will take place in Kokomo, Ind., where about 2,500 of the division's white-collar workers are based. The rest of the cuts will come from other locations in places such as the Michigan cities of Flint and Auburn Hills, along with Milwaukee and Vandalia, Ohio, Beach said.

Beach said Delphi hopes to achieve as many of the cuts as possible through attrition.

Delphi officials, who told workers of the job cuts at a meeting in Kokomo yesterday, said the moves were needed to align the company's resources with a changing market.

So which foreign country you moving to?

Delphi, the former parts-making unit of General Motors Corp. has been operating under Chapter 11 bankruptcy protection since October 2005."