Visteon cutting worker hours, pay in Michigan

updated 10:41 a.m. ET Jan. 2, 2009

VAN BUREN TOWNSHIP, Mich. - Automotive supplier Visteon Corp. said Friday it will shift more than 2,000 workers to a four-day week and cut their pay by 20 percent as tight credit and collapsing sales cause huge industry losses.

The moves will begin on Monday and affect all 2,000 workers at Visteon’s headquarters in Wayne County’s Van Buren Township and 50 at a testing center in Plymouth. The company has about 35,000 employees in 27 countries.

Spokesman Jim Fisher said Friday the four-day schedule at the Michigan facilities will be evaluated at the end of the month.

Visteon recently announced 800 job cuts on top of 2,000 that already had been eliminated.

The company makes satellite radios, instrument displays, electronic climate controls and other parts.

Also in msnbc.com business Answer Desk: So you have a crystal ball, eh? Your Career: Get a job working for the CIA Interactive: Ten cars that Detroit will regret Local governments face hard budget choices   Video: ‘Cash for Clunkers’ might be a win-win

MORE FROM AUTOS

Autos Section Front

A leaner GM zooms out of bankruptcy Key to GM’s turnaround: Chevy GM’s next plan: Sell new cars on eBay? Five keys to GM's success after bankruptcy Ten cars that brought down Detroit GM, Chrysler fight reopening closed dealers GM close to offering ex-CEO Wagoner exit deal The new GM: Fewer suits, greener logo? Traffic congestion dips as economy falters GM closer to swift Chapter 11 exit Autos Section Front   Add Autos headlines to your news reader: