EAST SYRACUSE, N.Y. (AP) -- Management and union officials are discussing a "fix-it plan" to stem losses at New Process Gear and keep the plant open.
The plant employs 2,050 people who make transmission parts for four-wheel drive trucks and sport utility vehicles. The company says the plant lost $117 million last year.
On Wednesday, executives from NPG's parent company, Magna, told analysts the company might have to shut down the plant if losses continue.
Union officials say they will do what they can to keep the plant open. But they say just a few months ago union members agreed to a contract that cut salaries and benefits by 30 percent.
The company says plans for the plant include making gears and transfer cases for hybrid and electric vehicles and courting new customers.