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Visteon to cut jobs and take charge

US auto parts maker Visteon Corporation is eliminating 1,600 jobs, or 2% of its work force, and will have US$ 95 million in first-quarter costs as it reorganizes engineering operations and sells a uni…

US auto parts maker Visteon Corporation is eliminating 1,600 jobs, or 2% of its work force, and will have US$ 95 million in first-quarter costs as it reorganizes engineering operations and sells a unit. Visteon plans to eliminate about 400 engineering jobs to cut research and development expenses, and 825 jobs as part of a plan to sell its air bag sensor business to Autoliv Inc., a spokesman said; 350 other employees will transfer to Autoliv. The 400 engineering jobs include 150 cut in January. The remainder will be eliminated by the end of the second quarter. The company has about 80,000 employees.

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