Tuesday, December 2, 2008

Lost Auto Jobs Pegged At 15,000

Lost Auto Jobs Pegged At 15,000

Auto makers in Canada stand to lose more than $3.1-billion this year and next and will vaporize about 15,000 jobs during the same period, the Conference Board of Canada says. The main culprit is the massive slump in the U.S. market, which has already led to production cuts at assembly plants in Canada this year and will cause auto makers to throttle back output next year as well. “Canadian auto manufacturers remain caught in a maelstrom of cyclical and structural industry changes, not limited to softening U.S. vehicle demand, cross-border wage gaps and increasingly stringent fuel emissions standards,” the Ottawa-based organization said Tuesday in its autumn outlook for the sector.

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