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The auto industry.(SPECIAL REPORT: BUSINESS & INDUSTRY)
The statistics are so incredible as to be almost unbelievable. The Big Three automakers, direct employers of hundreds of thousands of American workers, are hemorrhaging colossal sums of money and laying off workers in droves. Last year Ford alone lost $12.7 billion; Chrysler lost only $1.48 billion, but it was enough for Germany's Daimler to start looking for a way to divest themselves of their unstable American partner. The huge losses are leading to equally large layoffs. Ford, for one, is laying off over 30,000 employees in North America, many of them in the United States, and is closing a number of U.S. factories. The controversial closure in Atlanta, long the home of ...
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Source: HighBeam Research, The auto industry.(SPECIAL REPORT: BUSINESS & INDUSTRY)