Cape Breton car-parts plant cuts 17 jobs
Last Updated: Thursday, November 6, 2008 | 4:36 PM AT
CBC News
A car-parts manufacturer in North Sydney says tough economic times have resulted in a round of layoffs.
Precision Finished Components, a division of Magna International based in Aurora, Ont., confirmed Thursday that the 17 layoffs are effective immediately.
The company employs about 300 people. Including these latest job cuts, about 55 people have left Precision this year through retirement or layoffs.
In a release, the company said the job losses are due to the slumping North American auto industry.
Gordon MacLeod, the municipal councillor for the area, said the cuts will hurt North Sydney, particularly because Precision pays well.
"It's gonna impact the spinoff jobs to the supermarket to the furniture store," said MacLeod.
Sources tell CBC News the layoffs include a manager and some employees with 20 years of service.
The manufacturing plant produces power train components for car companies.
