WhipLash
29-03-2001, 12:44 PM
Some motoring related news…
160 jobs to go at Ballina auto components plant
US auto components maker GenCorp has announced that it plans to close its manufacturing facility in Ballina, Co Mayo, with the loss of 160 jobs.
In a statement, the company said that as part of a major consolidation and rationalisation of its automotive segment, GDX Automotive, it was closing its plants in Marion, Indiana and in Ballina. It anticipates taking a restructuring charge of USD14-18m in the second quarter of 2001, which it expects will be sufficient to cover all plant closures and layoffs in both the US and Ireland.
The firm said that, as well as excess capacity issues, "increased difficulty in retaining plant personnel in light of record employment levels in the region...was a key factor in the performance declines experienced at the Ballina facility".
"The intended plant closures are a difficult, but necessary, business decision to address excess capacity issues and the continued deterioration of performance and losses at these facilities," Joseph Gray, GDX Automotive president said.
"We will work closely with our employees, their unions, communities and customers in an effort to facilitate a transition process that is as smooth as possible in the coming weeks and months," he added.
Over the next six months, the company expects to transfer work at Ballina to its Rehburg, Germany facility, and has been in discussions for some time now with union officials regarding the transition.
I suppose that manufacturing related jobs will be worst hit now due to the continued slow-down in the States and high-wage demands and skilled labour shortages currently being experienced in Ireland....
160 jobs to go at Ballina auto components plant
US auto components maker GenCorp has announced that it plans to close its manufacturing facility in Ballina, Co Mayo, with the loss of 160 jobs.
In a statement, the company said that as part of a major consolidation and rationalisation of its automotive segment, GDX Automotive, it was closing its plants in Marion, Indiana and in Ballina. It anticipates taking a restructuring charge of USD14-18m in the second quarter of 2001, which it expects will be sufficient to cover all plant closures and layoffs in both the US and Ireland.
The firm said that, as well as excess capacity issues, "increased difficulty in retaining plant personnel in light of record employment levels in the region...was a key factor in the performance declines experienced at the Ballina facility".
"The intended plant closures are a difficult, but necessary, business decision to address excess capacity issues and the continued deterioration of performance and losses at these facilities," Joseph Gray, GDX Automotive president said.
"We will work closely with our employees, their unions, communities and customers in an effort to facilitate a transition process that is as smooth as possible in the coming weeks and months," he added.
Over the next six months, the company expects to transfer work at Ballina to its Rehburg, Germany facility, and has been in discussions for some time now with union officials regarding the transition.
I suppose that manufacturing related jobs will be worst hit now due to the continued slow-down in the States and high-wage demands and skilled labour shortages currently being experienced in Ireland....