- people on the move
Auto supplier lays off 50 workers
A global auto supplier is laying off 50 employees in the wake of its acquisition in the region.
On July 1, Visteon Corporation in Van Buren Township acquired the electronics business of Milwaukee-based Johnson Controls, which included the Holland Technical Center in Holland, where Visteon said today the layoffs are occurring.
“While the acquisition has been successful, in assessing the global needs of the business, we determined there were some duplicative roles and some opportunities to better align resources with customer needs,” said Jim Fisher, a Visteon Corporation. “As is often the case when two global businesses are combined, we have done some consolidation of roles.”
Fisher said laid off employees will be eligible for a company severance program based on years of service with Johnson Controls or Visteon.
Visteon has retained 250 salaried employees and a number of contract and agency personnel at the Holland facility.
“We intend to invest in and grow our global electronics business, which the Holland Technical Center supports,” Fisher said. “We operate in a very competitive global market, and we need to keep our resources aligned with businesses needs around the world. We are optimistic about the future of Visteon’s electronics business.”
The July acquisition created a global electronics enterprise with about 10,500 employees and more than $3 billion in annual sales.
Visteon has been exploring options for splitting the company, potentially selling its electronics business, according to an article at Bloomberg.com.