SEPTEMBER 23, 2021 — MARELLI TO CUT 1,500 POSITIONS WORLDWIDE
Marelli has announced a major restructuring that will see ten new business units and six divisions, along with a major reduction in force of 1,500 employees worldwide. mostly in staff support positions.
Marelli was formed in 2019 after New York City, New York-based KKR, an investment management company, closed its acquisition of Magneti Marelli from Fiat Chrysler Automobiles NV and is now engaging in financial engineering. The company is said to be considering the sale of its suspension systems business as they concentrate on profitable operations with future promise.
DECEMBER 22, 2020 — Original post…
Southfield, Michigan-based Marelli North America, a manufacturer of automotive components including powertrain components, suspension systems. climate-control, engine-cooling, and exhaust systems have announced that the company will be closing its Sanford, North Carolina facility in the second half of 2021, and laying off 329 employees as operations are off-shored to Saltillo, Mexico.
According to a company spokesperson, "The automotive industry is facing a number of prolonged challenges. Vehicle volumes are trending downward, exacerbated by Covid-19, while the introduction of new technology from non-traditional suppliers is forcing Tier 1s to review their operations to increase competitiveness."
The overal economic downturn and travel restrictions have severely impacted vehicle production. sales, and repairs. Moreover, the introduction of electric vehicles and hybrids is impacting traditional motor vehicles.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?