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Parts firm cutting 11,500 jobs

Thursday, March 29, 2001 | 11:07 a.m.

DETROIT -- Delphi Automotive Systems Corp., the world's largest auto parts supplier, said today it will cut 11,500 jobs under a massive restructuring plan prompted by a soft U.S. auto market that will leave its first-quarter earnings short of forecasts.

While jettisoning 5 percent of its global work force, Delphi said it plans to sell, close or consolidate nine plants and cut staffing at more than 40 other sites as it exits $900 million of what the company called "the weakest portion" of its businesses.

Delphi was spun off by General Motors Corp. in 1999.

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