The Forvia group, specialist in automobile seats and exhaust systems, wants to reduce its costs and improve its competitiveness.
1 min
10,000 jobs out of 75,500 in Europe are affected by this restructuring of the automotive supplier Forvia. The group will also limit the recruitment of temporary workers. This will concern sites located in France, Germany, Poland, the Czech Republic and Spain, “ but not in the same way », Specified the financial director of Forvia, Olivier Durand, during a press conference on February 19. “ We have had a decline in the European market, and we do not see any possible progression in the short or medium term. And we have a certain number of sites that are not operating at their full capacity “, he stressed.
Even though it became profitable again with turnover up almost 11% last year, the group is still in debt. This plan will enable savings of 500 million euros by 2028.
Accelerate the deployment of artificial intelligence
The other objective is to improve the competitiveness of the group, born from the merger between the French Faurecia and the German Hella. Forvia wants to halve its research and development costs, thanks toartificial intelligence. The equipment group also wants to reduce its dependence on China, where it records 27% of its sales, but most of its profit.
The conditions of this restructuring plan must be presented from this Monday, February 19 to the group’s union organizations. Forvia is not the only automotive supplier to downsize. Its German competitor Continental will cut more than 7,000 jobs by 2025.
Read alsoWhy electric car sales are slowing around the world