Mayflower Vehicle Systems to cut 375 jobs

[UpInArms]

http://seattlepi.nwsource.com/business/apbiz_story.asp?category=1310&slug=Mayflower%20Job%20Cuts

SOUTH CHARLESTON, W.Va. -- Mayflower Vehicle Systems, Inc. plans to lay off about 375 workers at its South Charleston vehicle stamping plant starting in late October because a major contract is expiring, plant officials said Thursday.

The layoffs of 350 hourly workers and 25 salaried employees will begin Oct. 28 and will run through January. A contract with DaimlerChrysler AG's Mercedes-Benz will expire at the end of the year, plant manager Richard Fix said.

<snip>

Mayflower Vehicle Systems' British parent, The Mayflower Corporation PLC, was declared bankrupt in March and handed over to an external administrator with debts of nearly $356 million.

The uncertainty about a potential buyer for the company's U.S. operations has caused clients to be wary about signing new contracts with Mayflower, said Mike Fell, human resource director at the South Charleston plant.

...more...

[Tight_rope]

1. This can't be....Bush said he is creating jobs.

[kestrel91316]

2. Yeppers, that red-hot economy....................

just keeps steamrolling along................downhill.