Holden Cuts 170 Jobs In Adelaide
News: US automaker General Motors Company (GM)'s Australian subsidiary Holden has cut around 170 jobs at its assembly plant in Adelaide through a voluntary separation programme. The layoff has been attributed to falling demand and the high Australian dollar. The company said it aims to ensure that it has a viable manufacturing operation in Australia for the next 10 years through better aligning production with customer requirements and projected future volume.
BMI View: A downside risk to our Australian production outlook is uncertainty surrounding Holden's future plans. The company axed the second shift at its Adelaide plant in February 2012, although it has pledged to maintain its current production volume. Now there is speculation as to the company's future model plans.