Visteon to close facility in Holland, lay off 151
Correction: Martin T. Thall and Visteon mutually agreed upon his separation from the company as executive vice president. This story previously story mischaracterized Thall’s departure from the company.
Van Buren Township-based auto supplier Visteon Corp. will close one of its facilities on the state’s west side.
In a Worker Adjustment and Retraining Notification filed with the state on June 30, Visteon said the closure will affect 151 employees at the Holland facility beginning Sept. 1.
“Due to loss of customer business and competitive pressures to consolidate our business operations, Visteon Corporation will permanently close our facility located at 915 E. 32nd St. in Holland, Michigan,” Jennifer Karaskiewicz, director of human resources, said in a notice.
The list of affected employees includes 31 software development engineers, 20 electrical design engineers, 17 program managers and many other engineers, financial analysts, designers and administrative staffers.
The employees do not have union bumping rights, Karaskiewicz said in the notice. They will be separated in phases as work is transferred, with terminations expected to happen between Sept. 1 and Dec. 31.
Visteon, which produces infotainment systems, instrument clusters and climate control systems, employs more than 12,000 people and operates in 21 countries, according to its website.
The company was once a unit of Ford Motor Co. but became independent in 2000. It struggled early on and filed for bankruptcy protection in 2009, emerging from bankruptcy in 2010.
On June 28, the company and Martin T. Thall, its executive vice president and president of the electronics product group, mutually agreed upon a separation.
In March, Visteon President and CEO Timothy Leuliette announced he would step down at the end of 2015. He will be succeeded by Sachin Lawande, who was most recently executive vice president and president of infotainment for Harman International Industries Inc.
Since Leuliette took over in 2012, Visteon has made a number of deals, including acquiring the electronics business of Johnson Controls and Cooper Standard’s thermal and emissions product lines. The supplier also sold various lighting and interior divisions and merged other business units during his tenure.
The company stock,traded on the New York Stock Exchange, closed Tuesday at $105.62 per share.