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BorgWarner Slashing North American Jobs

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BorgWarner Slashing North American Jobs

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U.S. automakers' production cuts are rippling through the supplier industry, with BorgWarner Inc. saying Friday that it is eliminating 13 percent of its North American work force and Lear Corp. earlier this week cutting its sales forecast by $300 million.

The U.S. Big Three are losing market share to Asian automakers at the same time that the U.S. economy is softening and domestic car sales are slowing.

Suppliers that do a heavy business with General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's U.S.-based Chrysler Group are sharing their customers' pain, an analyst says.

Read "Auto supplier BorgWarner to cut jobs" @ Yahoo

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