Iran’s automotive sector announced today, July 21, that close to 122,000 workers in auto parts factories have lost their jobs in the past year.

A spokesman for the Automotive Parts Manufacturers’ Association said that since last year, economic fluctuations have forced many production units to lay off between 30 to 50 percent of their workforce.

“The crisis has reached a stage where many parts manufacturers have cut back their three daily shifts to only one a day,” Mohammadreza Najafai announced.

Rising inflation in Iran over the past two years has caused havoc in many production sectors, leading to widespread unemployment.