Bailout Death Casts Millions of Jobs at Risk AutomotiveCrossing Seeks to Add More and More Jobs

December 15, 2008   |    PDF version

Pasadena, CA — Automakers soon might have to resort to Chapter 11 bankruptcy after Senate Republicans blocked a $14 billion bailout package. The bailout was expected to provide some relief to the ailing Big Three auto companies. Millions of automotive jobs are now in danger of getting slashed, as the US auto industry is on the brink of collapse, according to a recent study by the Economic Policy Institute (EPI), a non-profit firm based in Washington DC. The whole automotive industry is struggling, unable to bear the pressure generated by the overall downturn.

''The bailout death has cast the auto industry in its worst phase in years, and jobs will start shedding at an alarming rate to support the deteriorating bottom lines of automotive companies, especially the Big Three. AutomotiveCrossing is working day and night relentlessly even in the downturn to provide automotive jobs to job seekers'' says Harrison Barnes, CEO of AutomotiveCrossing, a leading job board for automotive professionals.

Despite some plant closures and lay-offs, the main Detroit-based auto manufacturers still employ 250,000 people in America, not counting those in dependent businesses. They are all in danger now. A bankruptcy filing by any of the Big Three might send the U.S. economy into chaos within weeks if it led to a shutdown at the companies. Every US state is expected to shed automotive jobs. White House and Treasury Department officials are concerned that steep declines in stock markets all around the world might result in more chaos in the United States. They said that the administration would consider providing temporary relief.

The non-profit think tank company, Economic Policy Institute earlier revealed some days back that in the event of the collapse of the auto giants anytime, a total of 3.3 million automotive jobs could be lost. More than 400,000 jobs are estimated to be eliminated in the automotive spare parts industry alone. Here are the brief statistics of number of auto jobs in danger in every state:

• Automotive jobs in Michigan (up to 407,300 jobs)
• Automotive jobs in Ohio (up to 219,100 jobs)
• Automotive jobs in Indiana (up to 147,300 jobs)
• Automotive jobs in Pennsylvania (up to 120,000 jobs)
• Automotive jobs in Tennessee (up to 106,400),
• Automotive jobs in Alabama (up to 76,100 jobs)
• Automotive jobs in Kentucky (up to 75,000 jobs)
  

''These are the toughest times for auto industry workers. But all is not lost; many sectors depend on this industry for survival, and they will do their best to get the industry out of the mess. With respect to the job losses, the best solution which I can offer is to look for jobs where they really are. There are still many automotive jobs out there and AutomotiveCrossing wants to find them all,'' says Barnes.

Unlike other job-search and career sites, AutomotiveCrossing weeds out spam and jobs outside one’s niche, allowing job seekers to search efficiently and specifically. The number of automotive jobs present in the database is expected to get an additional boost in the coming days, even when the market is down. For more information on AutomotiveCrossing, please visit www.automotivecrossing.com.

Contact:
Mary Wilson, Editorial Coordinator
AutomotiveCrossing
626-243-1821
mary@employmentcrossing.com

About AutomotiveCrossing

AutomotiveCrossing is an affiliate of EmploymentCrossing, a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. AutomotiveCrossing consolidates every automotive job opening it can find in one convenient location. The website also offers a seven-day free trial to new members.