Navistar
Navistar International (NAV) Sees Layoffs Due to Ford's (F) Production Cut Announcement
Navistar International Corporation (NYSE: NAV) reported that previously announced production cuts by Ford Motor Company (NYSE: F) will result in an October schedule change at the company's Indianapolis, Ind., engine assembly plant necessitating the layoff of employees.
Sergio Sgarbi, plant manager, said that the new production schedule that will go into effect beginning October 2 will result in the layoff of approximately 380 employees represented by the United Auto Workers union. Layoffs will also impact non-represented employees, but the final number has not yet been determined. The plant is just coming off a previously announced two week shutdown and another week of shutdown is scheduled to begin September 11, 2006. Streetinsider.com
Sergio Sgarbi, plant manager, said that the new production schedule that will go into effect beginning October 2 will result in the layoff of approximately 380 employees represented by the United Auto Workers union. Layoffs will also impact non-represented employees, but the final number has not yet been determined. The plant is just coming off a previously announced two week shutdown and another week of shutdown is scheduled to begin September 11, 2006. Streetinsider.com
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