Italian premium brake manufacturer Brembo announced yesterday that it will lay off 1,840 workers as the auto industry continues on a downward trend. To keep production in line with demand, Brembo said it will continue temporary lay-offs along with other saving controls.
Brembo plans on laying-off 540 and 680 white collar workers for 20 days in the March-May period. In March, it will lay off between 120 and 1,160 blue-collar workers at its plants for varying periods.
Outside of Italy, Brembo will cut a total of 160 jobs in Mexico.
Brembo said it has seen a strong reduction in orders as production is cut by auto makers and that it sees no signs of recovering in the coming months.