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bungy

A So The Us Housing Bubble Collapses

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Things are going to get really bad for workers at Delphi the auto component supplier - a pay cut down to 12.50 usd/hr is being demanded by Delphi management (around £7.00/hr or £15K annualised)

http://www.lsj.com/apps/pbcs.dll/article?A...70327/1004/news

This 'only' affects around 30,000 US workers. Delphi make the bits that go inside cars, so logically, the next stage is for GM (who are in as bad a position as Delphi) to demand similar cuts for it's workforce - then Ford will have to follow, then everyone else including the Asian carmarkers in the US in order to maintain parity.

Things are looking real bad at Delphi, but if you're in manufacturing in the UK (as I am) this is just on your doorstep and it looks very worrying.

The unions slam the offer as derisory "It's ridiculous. They know it's ridiculous," Gettelfinger (leader of the UAW) said.

Delphi are trying to react to competitive pressure from the ROtW and this is last chance saloon for them, but Delphi's angst is the tip of the iceberg I fear

Edited by Troubleatmill

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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