The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
171 jobs Number of planned job losses
Announcement Date
3 June 2020
Employment effect (start)
30 June 2020
Foreseen end date
Description
VCST Industrial Products, a company that manufactures parts for the automotive industry has announced it will be dismissing 171 of its 427 employees. The company management wants to reduce its activities in order to make the company profitable again. In the future the company wants to invest more in automation and further digitisation. The reduction of demand for cars is an important reason for this shift within the company, according to a company spokesperson, as is the COVID-19 health crisis which will see a sharp reduction in car registrations this year.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
