Executive Briefings

Many Suppliers to Auto Industry Are Just About Out of Gas

Although auto suppliers comprise the largest single manufacturing sector in the United States, with about 400,000 workers as of July 2009 - more than three times as many employees as automobile manufacturers themselves - this sector is also one of the country's most troubled. Indeed, that employment figure reflects a drop of 140,000 jobs in 12 months. And those job losses, unfortunately, are among the first in a radical restructuring that will rapidly change the face of the North American auto industry.

The retrenchment of the Detroit Three has pushed North American suppliers to the brink of bankruptcy.

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Although auto suppliers comprise the largest single manufacturing sector in the United States, with about 400,000 workers as of July 2009 - more than three times as many employees as automobile manufacturers themselves - this sector is also one of the country's most troubled. Indeed, that employment figure reflects a drop of 140,000 jobs in 12 months. And those job losses, unfortunately, are among the first in a radical restructuring that will rapidly change the face of the North American auto industry.

The retrenchment of the Detroit Three has pushed North American suppliers to the brink of bankruptcy.

Read Full Article