Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

  • William Maley
    William Maley
    Sign in to follow this  

    Holden Cuts 500 Jobs Due To Strong Australian Dollar

    By William Maley

    Staff Writer - CheersandGears.com

    April 9, 2013

    Holden is cutting 500 jobs due to the strengthening Australian dollar, which has caused country's labor rates to be one of the highest in the world.

    “I can’t control what central banks do. The value of the Australian dollar, and importantly the currency plays being made by other countries, mean that we are not competing on a level playing field,” said Holden managing director, Mike Devereux yesterday.

    The Australian dollar has surged 83% when compared to the Japenese Yen since 2008. This has prompted an increase in Japenese imports into Australia. This is further compounded by the rise in costs of plants in Australia. Devereux said this makes the operation “one of the most expensive, if not the most expensive” in GM.

    The job cuts will take place in two facilities: Holden's Elizabeth plant, where the Commodore and Cruze are built, and Holden's Victorian product development facility.

    These new cuts come five months after Holden announced 170 jobs would be cut for similar reasons.

    Source: Bloomberg, Drive.com.au

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    Sign in to follow this  

    User Feedback

    Recommended Comments

    Sad to hear this as I hate to hear any person loosing a job especially before the holidays. Yet as GM and others have learned here in the US, Labor rates kill the ability to have manufacturing local.

    Share this comment

    Link to comment
    Share on other sites

    There was a mis-configuration with the Holden forum where news articles from the front page weren't getting posted. I fixed it the other day, so now all the old articles got dumped into the Holden forum all at once. This was from April 9th

    Share this comment

    Link to comment
    Share on other sites

    Your content will need to be approved by a moderator

    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.