Dec 15, 2017 Last Updated 4:28 PM, Dec 12, 2017

New Entry From the Editor :

Australian shopping empire Westfield sold to French property firm for $33 billion

Australian shopping empire Wes…

AusBN - Australian shopping mall juggernaut Westfield has been purchased by...

ASX introduces blockchain technology into trade settlement system

ASX introduces blockchain tech…

AusBN - Australian Securities Exchange (ASX) has become the first major glo...

Australia’s annual economic growth rate rises to 2.8%

Australia’s annual economic gr…

AusBN - Australia’s annual economic growth rate has risen to 2.8% aft...

End of the conveyor belt for car manufacturing in Australia

car manufacturing plantAusBNAusBN - Australia’s automotive manufacturing industry is set to come to an end this month with the closure of Toyota’s factory in Altona Victoria, followed by General Motors’ Holden plant in Adelaide.

Toyota’s imminent shutdown of its manufacturing facilities in Altona will render 2,500 workers redundant, while the closure of the Holden plant on October 20 will place 944 people out of work.

These thousands of workers will join other former-automotive workers still searching for work after the closure of Ford’s Broadmeadows manufacturing plant in Victoria last October 2016.

Since then, Ford and the government have spent millions on retraining workers, but only half have found new jobs.

But, Victoria's Minister for Training and Skills Gayle Tierney expects the Toyota shutdown will be a bigger hit to the state economy compared to the Ford closure last year.

"There are going to be hundreds and thousands of people looking for jobs and coming onto the labour market at the same time," said Tierney.

At the industry’s peak, Australia produced almost half a million cars in 1974, but output has been in constant decline since and will fall to zero with the closure of Holden’s Adelaide plant.

@AusBNOnline

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner

Recent Tweets