Car parts supplier company Valeo to cut around 1,000 jobs in Europe – ET Auto
By Gilles Guillaume
PARIS: French car parts supplier Valeo will cut around 1,000 jobs in Europe, sources told Reuters, and the restructuring move will also result in Valeo closing two sites in France.
The job cuts will impact more than 800 workers in France, while Valeo will also cut staff at operations in Germany, Poland and the Czech Republic, added the sources.
Valeo’s job cuts come after the company reduced its annual sales guidance in October and as the European car sector faces challenges from sluggish orders at home and competition from Asian rivals which often make cheaper electric vehicles (EVs).
Tyre maker Michelin also announced in November that it would cut 1,250 jobs, while French-Italian carmaker Stellantis said this week that it planned to shut its Vauxhall van factory in southern England.
Ford also announced this month that it would cut around 14% of its European workforce.
(Reporting by Gilles Guillaume; Editing by Sudip Kar-Gupta/Tassilo Hummel)
Related
EU metalworkers demand job protections amid green transition
European metalworkers in Brussels called for job protections and more training during the green transition. Since 2019, nearly one million industrial j
Empowering creativity: Building businesses and jobs in Europe’s creator economy
For centuries, Europe has been a cultural powerhouse, exporting its art, theatre, literature
European banks cutting jobs in ‘year of reckoning’; Russian banks…
European banks have begun the year by kicking off a sweeping round of job cuts as they struggle to boost profitability and keep pace with their US rivals, as r
Dutch youth more often have a side job than their…
In the Netherlands, 77 per cent of young people aged 15 to 24 are employed, according to CBS. Denmark ranks second in the EU with a percentage of 57, while i
