Reported 2 days ago
The European automotive industry is grappling with weak demand, rising production costs, and increased competition from China, leading several companies to plan significant layoffs and factory closures. Notable announcements include Valeo cutting 1,000 jobs and closing two plants in France, Stellantis risking over 1,000 jobs with the shutdown of its Vauxhall factory in the UK, and Bosch planning 5,500 job cuts by 2032. Other companies like Ford, Michelin, Schaeffler, Volkswagen, and Daimler Truck are also implementing similar workforce reductions and operational shutdowns.
Source: YAHOO