Business Services Industry
2nd set of cuts hits temp firms; Profit margins shrink; employee wages slashed.(Brief Article)
Crain's Detroit Business, December, 2001 by Snavely, Brent
As the New Year approaches, technical-staffing companies in metro Detroit are doing everything possible to deal with a second wave of 7 percent price cuts from automotive customers. Lear Corp., Johnson Controls Inc.'s Automotive Group, Delphi Automotive Systems Corp. and other automotive suppliers have plans to ask for 7 percent price reductions or already have made them.
Those requests followed 7 percent cuts mandated by General Motors Corp. earlier this month and by Ford Motor Co. and Visteon Corp. in November. The reductions are deeper than the technical-staffing industry has seen in at least 20 years, said Jim Cowper, vice president and general manager of Bloomfield Hills-based TAC Automotive Group, a division of Newton, Mass.-based TAC Worldwide Cos....
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