Caparo Vehicle Components to Cut 270

Caparo Vehicle Components is a company that many of you may not have heard of in the past. But the company does a significant amount of business and many people rely on them for their employment. For those of you who are not familiar with the workings of the company here is a look at how they have chosen to describe themselves, “Caparo is a diversified global association of businesses with over a 1.5bn Euro turnover. With interests predominantly in the design, manufacture and marketing of value added steel and niche engineering products, Caparo’s wider activities encompass also new product development, materials testing services, hotels, media, furniture and interior design, financial services, energy, medical products and private equity investment.”

Apparently the company is getting rid of about 270 of its workers in order to reduce its costs in the very near future. The company is getting ready to close down two facilities as a cost reducing measure between the 17^th of August and the 31^st of August.  The loss of these jobs will represent more than enough jobs lost to qualify as a mass layoff action. For those of you who are not familiar with the idea of a mass layoff action here is a look at how the federal government defines the term, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.”

The job cuts are coming from workers in the state of Michigan, where the facilities are being cut back and the jobs will be lost. The company is getting ready to sell the two facilities to another company so it may be that when all is said and done that there will be new jobs when the new company takes possession of the facility. At the current moment there has been no word.

The company’s most recent release was interestingly enough about their success, instead of about their success instead of their closures, “The company’s purpose built manufacturing unit is provided with conditioned and filtered air to achieve complete environmental control. The ventilation system has been ‘balanced’ to obtain the required airflow rates and is temperature controlled. This allows the business to undertake strictly controlled manufacturing and assembly projects on behalf of customers. The cell houses 6 axis robotic laser welding units that guarantee low distortion, controlled penetration, excellent aesthetics and a small heat affected zone. In addition, advanced ultra vacuum Helium leak checking equipment is used to check the integrity of the product that will operate at approaching -273 Deg C.”

For the time being the company has not said anything about the kind of severance packages they will be giving workers who are soon to be displaced.