American Axle to cut jobs after contract agreement

A week after getting a new contract, job cuts are on the way for American Axle.

The company says it will cut its U.S. hourly work force by 2,000 as a result of a new contract ratified last week by United Auto Workers.

The contract agreement came after a nearly three-month strike against the company.

American Axle began bringing its factories back on line this week.

The CFO says the strike will cost the company between 125 and 130 million dollars in lost profits this year.

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