Due to the recent and continuing worldwide economic crisis, GETRAG Corporation permanently laid off approximately 141 employees at its facility in Maiden, N.C., on January 5. The company says that it regrets having to take this action and will offer assistance to employees to help ease the transition.
Friedemann Strasser, CEO of GETRAG Corporation, explained: "The current economic situation and the crisis in the American automotive market in particular forces us to adjust our organization to assure the long-term viability of our company."
GETRAG Corporation offers Power Take-Off Units, AWD Systems and Drivetrain Components to the automobile industry. The company was founded in 1986 as Getrag Gears of North America Inc. It changed its name to GETRAG Corporation in 2001.
