(Reuters) -A slew of automotive corporations throughout Europe have introduced plant closures and massive layoffs just lately as they battle with weak demand, excessive prices, competitors from China and a slower-than-expected transition to electrical autos.
Under are layoffs and website closures introduced in current months (newest first):
FEINTOOL
Switzerland’s automotive provider Feintool on Dec. 3 introduced it would shut considered one of its websites in Germany and lay off as many as 200 folks.
VALEO
French automotive components provider Valeo (EPA:) will lower round 1,000 jobs in Europe, sources advised Reuters on Nov. 27, including that the restructuring push will outcome within the closure of two French vegetation.
STELLANTIS
Carmaker Stellantis (NYSE:) on Nov. 26 introduced plans to close its Vauxhall van manufacturing facility in Luton, England, placing greater than 1,000 jobs in danger.
It has repeatedly halted meeting operations at its principal plant in Italy’s Mirafiori on account of low demand, specifically for the electrical model of Fiat (BIT:) 500.
The corporate mentioned it had no plans to close vegetation in Italy.
BOSCH
Bosch (NS:), the world’s greatest auto components provider, plans to chop 5,500 jobs by 2032 in its cross-domain laptop options and steering divisions, principally at German websites, and scale back work hours for some workers, it mentioned on Nov. 22.
FORD
U.S. automaker Ford (NYSE:) on Nov. 20 mentioned it could lower 4,000 jobs, primarily in Germany and Britain, representing 14% of its European workforce.
MICHELIN
French tire maker Michelin (EPA:) will shut two websites in western France, affecting about 1,250 jobs, it mentioned on Nov. 5.
SCHAEFFLER
German machine and automotive components maker Schaeffler: The , hit by weak demand from auto and industrial purchasers, mentioned on Nov. 5 it deliberate to chop 4,700 jobs, principally in Germany.
The restructuring effort would additionally embrace closures of the manufacturing services in Austria and Britain.
VOLKSWAGEN
Volkswagen (ETR:), Europe’s high carmaker, has threatened 1000’s of job cuts and potential plant closures in Germany because it embarks on robust talks with unions over the cost-cutting push.
On July 9, it placed on sale its 3,000-people-strong Brussels website for premium model Audi on account of low demand for its higher-end electrical vehicles.
DAIMLER TRUCK
Daimler (OTC:) Truck, the world’s largest truckmaker, mentioned on Aug. 1 it would lower hours and impose a job freeze for workers in its truck-making enterprise in Germany.
