The company on Jan. 2, 2009, said about 2,050 white-collar employees will (receive monthly salaries of employees) of the wage cut of 20% of working days per week also reduced to four days. This provision will today (5 January) started.
The company spokesman JimFisher said, "This is to reduce operating expenses and the measures to be taken, but it can also try to avoid layoffs." Visteon employees now total about 3.5 million, of which white-collar employees in North America about 3100 people.
About 35% of Visteon's business came from Ford Motor Company, about 25% of the business from the North American market.
Comments analysis 1, Visteon, although the situation is very difficult, but after all not the same as Delphi filed for bankruptcy protection. And Delphi out of bankruptcy protection so far have not. However, Delphi's business in China is still booming, at least we see more of a Delphi to increase its investment in China, a new plant opened in China since the end of 2009 production of hybrid components and systems , after-sale technical aspects of the formal establishment of training center for vehicle maintenance and so on. But recently, a compressor plant in Suzhou Delphi plant closed temporarily due to stop production in North America, so we see no negative impact is not.
2, Delphi, Visteon, the two I remember when the world's top two auto parts suppliers, in 2008 (based on 2007 sales) were down to the 5, 16. The two companies are similar fate in 1999, GM will be owned by Delphi Automotive Systems (later renamed the Delphi Group) spin-off, followed by Ford in 2000 to spin off Visteon. However, after being split the two different fate.
Although the separation of Delphi and GM
, but still carry the burden?? UAW workers higher wages and benefits, which led directly to October 2005, Delphi filed for bankruptcy protection. According to the agreement when the original spin-off, Delphi bankruptcy protection, universal nine billion U.S. dollars to provide pension and other costs, but also, Delphi out of bankruptcy protection is very bumpy road, first by Cerberus Capital Management in December 2006 promised to will help it out of bankruptcy protection, the results in April 2007 and "changed their mind"; then, Delphi in July 2007 it established a new savior?? AppaloosaManagementLP, results of the latter in April 2008 has "changed their mind and" the.
Separated after Visteon, Ford, Visteon repurchased and from 17 plants, set up auto parts group (AutomotiveComponentsHoldingsLLC, ACH), and share a portion of its insurance and employee benefits expenditures. Visteon in this asylum, although the annual loss, but have not yet entered bankruptcy protection. Ford originally planned for the end of 2008 these 17 plants 11 to sell or close, there were still two factories did not complete, one of which was originally decided in 2007 under the Johnson Controls to sell, but in August 2008 The deal also announced that fell through.
The failure of the introduction of injection or sustained losses, inevitably interfere with the U.S. Department of suppliers in China for investment and decision-making?? Their headquarters in the priority level executives has been far behind behind.
3, now the "winter period" Ford looks relatively "freeze," but it's business in China has not shown significant improvement. Even worse, the U.S. auto business news verge of bankruptcy, it will certainly brand image in China have been affected. For consumers, they no longer will these brands have in the past as a very strong sense of trust, and will appear brand crisis of confidence - even though Chinese consumers prefer foreign brands has always been. OEMs will inevitably affect the performance of their key suppliers, such as 35% of Visteon's business still comes from Ford. In China, Visteon launched the first
System is also installed on the success of Changan Ford Mondeo. I am an expert from China Auto Suppliers, usually analyzes all kind of industries situation, such as grease gun holder , heavy duty grease gun.
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