SOUTHFIELD, Mich. (Dec. 23, 2008)—Federal-Mogul Corp. said it plans to reduce the company's global work force by about 4,600 additional positions beyond its previously announced restructuring, or about 10 percent.
The Southfield-based automotive parts maker did not disclose specific sites pending further evaluation and consultations with appropriate parties.
The additional restructuring actions will begin during the first quarter of 2009. Preliminary cost estimates for the additional restructuring are about $80 million through the end of 2009, the company said, and are in addition to expense estimates included in its original restructuring plan in September.
President and CEO Jose Maria Alapont said these measures are required to prepare the company for the unprecedented challenges in the automotive industry.