(Reuters) – A host of auto companies have recently announced factory closures and large layoffs in Europe as they grapple with weak demand, high production costs, competition from Chinese rivals and a slower-than-expected transition to electric vehicles.
Below are some of the companies that have flagged layoffs and plant closings announced in recent months:
* VALEO: The French auto parts supplier will cut about 1,000 jobs in Europe, sources told Reuters on Nov 27, adding that the restructuring push will result in the closure of two French plants.
* STELLANTIS: The Franco-Italian carmaker announced plans on November 26 to close its Vauxhall van plant in southern England, putting more than 1,000 jobs at risk.
It has repeatedly halted assembly operations at its main factory in Mirafiora, Italy due to low demand, particularly for the electric version Fiat (BIT:) 500.
The company said it has no plans to close plants in Italy.
* BOSCH: The world’s largest auto parts supplier plans to cut 5,500 jobs by 2032 at its cross-domain computing solutions and management divisions, mostly at German plants, and reduce working hours for some employees, it said on Nov. 22.
* FORD: The US carmaker said on November 20 that it would cut 4,000 jobs, primarily in Germany and Britain, representing 14% of its European workforce.
* MICHELIN: The French tire maker will close two factories in western France, affecting around 1,250 jobs, it said on November 5.
* SCHAEFFLER: The German machinery and auto parts maker, hit by weak demand from automotive and industrial clients, said on Nov. 5 that it plans to cut 4,700 jobs, mostly in Germany.
The restructuring would also include the closure of production facilities in Austria and Britain.
* VOLKSWAGEN: Europe’s biggest carmaker has threatened to cut thousands of jobs and potentially close factories in Germany as it engages in difficult cost-cutting talks with unions.
On July 9, it put its 3,000-strong Brussels site for premium brand Audi up for sale due to low demand for its more expensive electric cars.
* DAIMLER TRUCK: The world’s largest truck maker said on Aug. 1 that it will cut working hours and institute a job freeze for employees at its truck manufacturing business in Germany.
