Canadian auto supply giant Linamar Corp. is looking at ways —including potential layoffs — to mitigate the financial loss it expects to endure during the global outbreak of the novel coronavirus.
“Clearly the news of customer shutdowns this week globally will have impact on the facilities supplying those customers,” CEO Linda Hasenfratz said in a statement.
The Detroit Three, Honda, Toyota, Nissan, Volkswagen and Subaru all announced this week they would idle production for varying lengths of time as North America struggles to combat the growing pandemic.
Linamar, which is headquartered in Guelph, Ont., operates plants in 11 countries, including all three USMCA member nations, and counts Ford and General Motors among its customers.
“Each facility is developing plans with their customers and communicating to their employees what this means to them including potential layoffs,” Hasenfratz said.
While the company wouldn’t confirm layoffs and production stops are underway, a photo shared on Twitter showed what appeared to be a notice of shutdown of Linamar’s Corvex plant in Guelph.