Norwegian automotive
industry hit by crisis
The Norwegian automotive industry has been hard hit by the global financial crisis, and is forced to cut jobs due to lower demand from the car makers.Hydro's Automotive Structures at Raufoss is manufacturing bumpers and other body parts to the car industry in Europe and Asia. They are now cutting every 6th job.
- Around 125 workers have received notice or will be laid off, says CEO Olaf Wigstoel to Dagens Naeringsliv.
Casting Technologies in Farsund is manufacturing aluminum underbody parts for most European car manufacturers, and have laid off 45 workers.
Manufacturer of wheel rims, Fundo Wheels in Høyanger have laid of 50 workers due to lower demand.
Several major car dealers are also suffering. Many predict a 50 to 70 per cent drop in sales for November, and many are selling new cars at cost, NRK reports.
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