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- TrueCar to eliminate 219 jobs in restructuring May 28, 2020The cuts, prompted by the coronavirus outbreak and the end of a key partnership with USAA Federal Savings Bank, amount to more than 30 percent of the vehicle listings company's work force.
- FCA wants money back after overpaying 24,000 workers May 28, 2020The employees received on average $500 more than they were entitled to under the UAW's contract because of a federal economic relief program that increased unemployment benefits.
- ZF to cut up to 15,000 jobs by 2025, report says May 28, 2020The supplier said in an email to employees that half the job cuts would be in Germany, Reuters reported.
- VW board OKs Ford alliance projects May 28, 2020Among the shared projects specified by VW are a midsize pickup to be developed by Ford, a city delivery van to be developed by VW and a new electric vehicle for Ford of Europe, to be built on VW's EV architecture.
- Icahn exits bankrupt Hertz at loss of almost $1.6 billion May 28, 2020Icahn, 84, sold his entire 55.3 million shares of Hertz stock on Tuesday for 72 cents a share, according to a regulatory filing. His holding represented about 39 percent of the company's equity.
Latest Posts
- ZF to cut up to 15,000 jobs by 2025, report says May 28, 2020The supplier said in an email to employees that half the job cuts would be in Germany, Reuters reported.
- Geneva show under threat amid bailout dispute May 28, 2020Automakers' worries over the continuing fallout from the pandemic and a loan dispute between event organizers and authorities could jeopardize the auto show next year.
- GM, Ford use payment programs with banks to aid suppliers May 28, 2020Keeping small suppliers afloat financially is critical for the automakers as they try to restart North American factories and generate cash from sales of large pickup trucks, crossovers and SUVs.
- Nissan to cut costs, capacity, lineup in sweeping overhaul May 28, 2020The automaker aims to cut $2.78 billion in fixed costs and reduce global production capacity from 7.2 million to 5.4 million vehicles. Nissan will close plants in Indonesia and Spain, and realign its U.S. production footprint.
- Spain says it will do all it can to reverse Nissan plant closure May 28, 2020Nissan made the decision to end operations in Barcelona despite proposals made by the local authorities to keep the plant running. Worker protests erupted.
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