AM I NEXT? NO LOVE AT COOPER STANDARD AUTOMOTIVE

Novi, Michigan-based Cooper Standard Automotive, a supplier of systems and components for the automotive industry, has announced the lay off of 86 employees at the company's Surgoinsville, Tennesee plant.

Cooper Standard was named a GM Supplier of the Year by General Motors in June, 2020 for the company's production of high-quality fuel and brake systems for the Colorado, Canyon, Acadia and Cadillac XT5.

Cooper Standard Chairman and CEO Jeffrey Edwards noted, "We believe the challenging market conditions that have persisted for the last 18 to 24 months are the new normal for the auto industry. In an environment of slow to negative growth, we have to be more focused than ever before on improving efficiency, providing world-class quality service and innovation to customers, and driving the business to improve cash flow and returns on invested capital. And, we are. In addition to the facility closures, the company is in the midst of a strategic review process to consider alternatives for other unprofitable operations. Details will be provided as decisions are finalized."

According to the company's second-quarter posting, "The Company remains focused on reducing ongoing costs through improved operating efficiency and the further rightsizing of its operating footprint and overhead expenses. As previously announced, two manufacturing facilities were scheduled to be closed in 2020. During the second quarter, an additional technical facility was added to the list of planned closures in 2020. One of the manufacturing plant closures has been completed. The closure of the second manufacturing facility and the technical facility are on track to be completed later this year."

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?