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...enjoys the support of German labour unions, and the funding is there. It makes sense," said Smith. But he also warned of job-cuts. Magna's bid outlined a plan to wind down production at GM's factory in Antwerp, Belgium, and shift some production from a Spanish plant to Germany. Magna executives have said that 10,000 jobs might be axed across Europe. Opel's union chief, Klaus Franz, welcomed news of the deal. "I'm pleased and I'm relieved but I'm not exactly euphoric," Franz told TIME. "I know that hard work lies ahead...
...Eaton Manufacturing plant in Roxboro, N.C., makes a 3-in. gadget called a lash adjuster that keeps pressure constant on engine valves, increasing fuel efficiency. Last year Brian Whitfield, a supply-chain analyst at the factory, had plenty of work scheduling orders for raw materials, components and packaging. But with the collapse of GM and Chrysler, business ground to a halt, and when Whitfield arrived at his cubicle on Jan. 20, he found an e-mail from management announcing layoffs. He looked around and saw people leaving, carrying boxes. Then his boss called him into the conference room. "Basically...
...Whitfields try to listen to the sermon, but Brian's mind wanders. Last autumn, Debbie warned Brian that the ax might fall. She grew up in Flint, Mich., the granddaughter of a man who participated in the landmark 1936-37 sit-down strike at GM's Fisher body plant that established industrial-labor-organizing rights in America. But she saw her father and uncle go down with the automakers. "When they shut down the Fisher plant [in 1987], everything within a two-to-three-block radius closed down: bars, restaurants, gas stations, banks. Because I lived through...
...office increased 13% over the past 12 months. Of the county's 19,510 workers, 2,358 were unemployed as of Aug. 13 - a rate of 12%. More cuts may be on the way. Aleris International, a manufacturer of rolled aluminum that employs 149 at its Roxboro plant, filed for Chapter 11 bankruptcy protection in February. Charter Communications, which has 14 working for it in Roxboro, followed suit in March. "People are afraid to spend their money now," says Marcia O'Neil, head of the Roxboro Area Chamber of Commerce...
...With folks forgoing vacations, Hyco Lake, 10 miles north of Roxboro, was a busier place this summer. It's a man-made lake that actually serves a business purpose. The south end of Hyco Lake feeds cooling water to a massive power plant owned by Progress Energy. The plant employs 268 people and generates up to 2,425 MW of electricity. In January, just after he was laid off, Whitfield called human resources at Progress to see about a job. The Roxboro power plant employs six supply-chain analysts, says Harry Sideris, the plant manager, but he doesn't need...