- The auto supplier trade organization on Tuesday said it is aware of more than 100 supplier companies “enacting some form of temporary layoffs” of up to 12,000 U.S. salaried and hourly employees.
- About 48,000 UAW members have been on strike and picketing outside GM’s U.S. facilities since Sept. 16.
- The impacted supplier workers add to the more than 10,000 non-UAW employees with GM to be impacted from the strike in North America and thousands more in the Canadian and Mexican supply chain. Source CNBC
League leader Matteo Salvini said on Monday the euro was here to stay and he hoped that nobody in his far-right, euroskeptic party would ever again raise doubts over Italy’s membership of the single currency. Source Reuters
Tyre maker Michelin said Thursday it would close a French-based factory with 619 employees next year as competition from cheaper Asian manufacturers knocks its profit margin. Source The Local
Continuing its downward spiral for consecutive 11th month, passenger vehicle sales plunged by 23.69 per cent in September, as per the latest data from SAIM (Society of Indian Automobile Manufacturers). The report says commercial vehicle sales dipped 62.11 per cent in September. Passenger vehicle sales dropped to 2,23,317 units, while passenger car sales dropped by 33.4 per cent to 131,281 units. Source India
