You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Questions, answers about Detroit's bankruptcy
    DETROIT – A judge on Nov. 7 signed off on Detroit's plan to emerge from bankruptcy, but he didn't specify when that would happen. A specific date is expected to be discussed during a court hearing Monday.
  • Banking industry may alter ethics
    WASHINGTON – The banking industry seems to bring out dishonesty in people, a new study suggests.A team of Swiss economists tested the honesty of bank employees in a lab game that would pay off in cash if they cheated.
  • JetBlue addsbag fees, cutsseat spacing
    JetBlue will add bag fees and squeeze seats a bit closer together as it tries to boost profit.
Advertisement

Auburn parts supplier cuts 130 jobs

An Auburn auto-parts supplier cut its workforce in half Friday after losing a key contract, a corporate spokesman confirmed Monday.

Contech Castings on Friday eliminated 130 jobs that paid $10 to $15 an hour, depending on skills and time on the job, said Robert LaCourciere, Detroit-based vice president of sales and communications for Revstone Transportation Group.

Private equity firm Revstone Industries acquired auto-parts plants in Auburn and Pierceton from bankrupt Contech LLC for $13 million in June 2009. The Auburn factory employed 134 at the time with 33 on layoff.

Contech Castings, 1200 Power Drive, Auburn, is now part of the Revstone Cast Metals family, according to its website.

The job cuts were chosen based on which work lines supplied a contract lost this month, LaCourciere said.

"To not react would have put everything else at risk," he said.

For more on this story, see Tuesday's print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Tuesday.

sslater@jg.net

Advertisement