Lear announces cost-cutting plans, layoffs

Source: AP

Associated Press 10.15.08, 10:00 AM ET

SOUTHFIELD, Mich. - Lear Corp. on Wednesday announced cost-cutting measures, including an unspecified number of layoffs, aimed at saving the auto supplier $150 million over the next 12 months.

The company said it will reduce program development costs to conform with a significantly lower production outlook, accelerate low-cost engineering and sourcing initiatives and consolidate its supply base, among other actions.

Permanent and temporary layoffs and "additional thrifting of personnel-related costs" are also among the plans, the company said in a statement.

Mel Stephens, a company spokesman, declined to say how many workers would be laid off.



Read more: http://www.forbes.com/feeds/ap/2008/10/15/ap5557615.html

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So much job loss...

for what they've done to the language.