UPDATED: Number of lay-offs today is 8 9 employees, and the 11% reduction in salaried workers has been touted as Phase I. Waiting to hear what Phase II entails.
Despite gushing about their 2nd quarter earnings, the reality is – two months ago, the TRW Automotive plant in Rogersville cutback to a four-day work week with rumors of a three-day week swirling. And I just got word the company has laid-off six nine employees today and will be looking to cut 11% of its salaried workforce.
Part of the reason? Last month, the company lowered its North American vehicle production forecast by 700,000 units to 13.5 million. The company previously estimated 14.2 million vehicles would be built this year. Production cuts, consumer and automaker shifts away from pickup trucks and SUVs and spiking raw material costs have created a tough North American market. TRW predicts: those tough conditions are likely to continue into 2009.
What that means for Hawkins County? The recession has finally hit home and more lay-offs are likely. So… I’d say welcome to the “Oh Shit” phase. I’ve been here for awhile. Would you like me to show you around?
