Auto parts maker Formet cuts 120 jobs in Ontario
Magna International Inc.'s auto parts maker Formet is cutting 120 jobs at its St. Thomas, Ontario, plant.
By Agencies |
ONTARIO: Magna International Inc.'s auto parts maker Formet is cutting 120 jobs at its St. Thomas, Ontario, plant.
Magna spokeswoman Tracey Fuerst said Saturday that the layoffs will leave about 1,000 employees to look after building pick-up truck frames.
The indefinite layoff begins Jan. 26. Formet cut 400 jobs in September when General Motors Corp. closed its Oshawa, Ontario, facility.
Auto parts suppliers have been suffering as U.S. auto sales have fallen sharply as credit has gotten tougher to obtain and potential customers worry about whether the recession will cost them their jobs.
Magna spokeswoman Tracey Fuerst said Saturday that the layoffs will leave about 1,000 employees to look after building pick-up truck frames.
The indefinite layoff begins Jan. 26. Formet cut 400 jobs in September when General Motors Corp. closed its Oshawa, Ontario, facility.
Auto parts suppliers have been suffering as U.S. auto sales have fallen sharply as credit has gotten tougher to obtain and potential customers worry about whether the recession will cost them their jobs.
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