Visteon Plans to Cut 600 Jobs in Indiana - aftermarketNews

Visteon Plans to Cut 600 Jobs in Indiana

Auto parts supplier Visteon Corp. said it would relocate part of its Bedford plant operations to cut costs in a move that could affect about 600 of the plant's 1,150 hourly and salaried workers. The Dearborn, Mich.-based company gave no timetable for the move from Bedford, Ind., about 20 miles south of Bloomington, Ind., or a possible site for relocating workers. The plant makes a variety of fuel system parts and other components, mostly for Ford cars and trucks.

From Associated Press via MEMA Industry News

BEDFORD, IN — Auto parts supplier Visteon Corp. said it would relocate part of its Bedford plant operations to cut costs in a move that could affect about 600 of the plant’s 1,150 hourly and salaried workers.

The Dearborn, Mich.-based company gave no timetable for the move from Bedford, Ind., about 20 miles south of Bloomington, Ind., or a possible site for relocating workers. The plant makes a variety of fuel system parts and other components, mostly for Ford cars and trucks.

A company statement on Wednesday said Visteon was committed to providing support to Bedford employees throughout the transition and would work with the International Union of Electrical Workers-Communications Workers of America.

Earl Wilson, president of the union’s Local 907, met with union members Tuesday and told them of the company’s plans.

The union’s current Visteon contract in Bedford expires May 14. Contract negotiations broke down in late January, and the union has voted in favor of strike authorization. The sides expect to schedule more negotiations.

Visteon, a former Ford Motor Co. division, reported in January that it lost $1.21 billion, or $9.65 per share, in 2003 versus a loss of $352 million, or $2.75 per share, a year earlier. Revenue fell to $17.66 billion from $18.4 billion.

Besides the Bedford plant, Visteon operations in Indianapolis and Connersville each employ more than 2,000 workers. The company has about 72,000 workers globally, with manufacturing, sales and service facilities in 25 countries.

In trading Thursday in the New York Stock Exchange, Visteon shares rose 14 cents to close at $9.60.

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

ZF Aftermarket Releases 36 New Parts for US, Canada

ZF has introduced a total of 185 new products in 2024 under the ZF, LEMFÖRDER, SACHS, TRW and WABCO brands.

ZF Aftermarket announced it launched 36 new part numbers for a variety of braking, suspension and transmission components for passenger cars in the United States and Canda (USC) aftermarket. This includes 10 new part numbers for SACHS Continuous Damping Control (CDC) shock absorbers, bringing the total number launched this year to 60.

Dana Expands Spicer ReadyShaft Assembly Coverage

The addition of more than 3,000 new part numbers brings Dana’s ReadyShaft program
to over 13,000 active SKUs.

Dana-Expands-Spicer-ReadyShaft-Assembly-Coverage
Litens Aftermarket North America Elevates Sustainability Efforts

Litens said it is dedicated to achieving carbon neutrality by 2030. 

Litens Aftermarket North America Elevates Sustainability Efforts
HELLA Introduces HELLA BLADE LED 6” Series Auxiliary Lights

The HELLA BLADE Series combines powerful illumination with innovative features for the ultimate driving experience, the company said.

HELLA-BLADE-LED-6-Series-Auxiliary-Lights
Transtar Announces Agreement for Axalta to Acquire The CoverFlexx Group

Axalta Coating Systems has signed a definitive agreement to acquire Transtar Holding Company’s subsidiary The CoverFlexx Group.

Transtar-logo-on-white

Other Posts

Bendix: Air Disc Brake Production has Doubled Since 2018

Commercial ADB adoption rates in Class 6-8 vehicles are now up over 50%, according to Bendix.

Bendix Bowling Green
MPA: ‘We’re as Strong as Ever’

Chairman, President and CEO Selwyn Joffe discusses what he’d like the aftermarket to know about Motorcar Parts of America.

MPAs-Selwyn-Joffe-Were-as-Strong-as-Ever
Dayton Parts Offers New Aftermarket Products

A new DPF differential pressure sensor, engine oil dipsticks and fuel injector wiring harnesses designed to match OEM spec.

Dayton-parts-releases-2-sensor-dipstick-harnesses-1400
Hunter Engineering Releases Alignment Coverage for Hundreds of Vehicles

The release covers brand-new records – those not yet in existence at the time of the previous release – as well as updates to existing records, covering OEM changes to existing vehicles, the company said.

Hunter Engineering Releases Alignment Coverage for Hundreds of Vehicles