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US auto industry cutting jobs at the fastest pace since the financial crisis

From marketwatch.com

Auto makers are laying off employees at the fastest pace since the financial crisis, according to outplacement services company Challenger, Gray & Christmas Inc., as the industry struggles with evolving consumer demand and new technology-based competition. The industry has announced 19,802 in workforce reductions this year through April. That’s more than triple — up 207% — than the 6,451 jobs cuts announced during the same time last year, and the most for the first four months of a year since 101,036 cuts were announced through April of 2009, according to data provided by Challenger, Gray & Christmas. Both Chrysler ... (full story)

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