redheadguy saidWhat's going to happen if the American car companies go bust? That's something like 1 million workers unemployed.
I have heard that the ripple effect of that is up to 10 million jobs. I would hate for the economy to take that kind of hit. But I think that american car companies have been stupid. I hope they can wake up, save themselves, and produce better cars because of this.
I'm not sure where you got 10. I've only heard 2, which includes suppliers to the Big 3, and only if all 3 were to cease all production, which can't happen.
What people don't consider is that, Because of the ineptitude of the Big 3,
Americans have slowly been buying more and more foreign-owned cars, which spurred many new manufacturing plants to be built in the US, as well as supporting suppliers. So...Because of the ineptitude of the Big 3,
There are now a LOT more people currently employed in new, foreign-owned manufacturing facilities.
In a sense, we've been compensating for the inevitable decline of the American car manufacturing business for a while now.
To the OP---sorry about the job. I've been laid off twice in the last two bad economies, and usually end up better off. I'm in one of those sectors that's vulnerable as well. But I don't think they'll do big layoffs until after the Spring, when the union might strike, which means they would need to have a contingent work force ready.