Dura Automotive Systems Inc.

Dura Automotive Systems Inc. announced recently that it will be cutting 250 jobs at its Moberly plant as part of a companywide restructuring plan. The Moberly plant has a workforce of about 400, and the reduction of 250 positions will affect both hourly and salaried employees, the company said. In October 2006, the Rochester Hills, Mich.-based automotive company filed for Chapter 11 bankruptcy protection, citing an increased debt burden and low profits because of the country's deteriorating automotive industry. Dura's restructuring efforts also involve the closing of about 10 facilities and the relocation of about 2,000 jobs throughout its worldwide operation that includes 36 facilities in 16 countries in North America, Europe and Asia. Dura had planned to emerge from Chapter 11 protection by the end of last year, but with the bleak outlook for the credit market in 2008, the company decided to continue with its restructuring plan.