Restructuring events
European Restructuring Monitor (ERM)
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.
Valeo, a French global automotive supplier headquartered in France, has announced around 1,000 job cuts in Europe. The layoffs will also affect four production plants (Rakovník, Žebrák, Beroun and Humpolec) in the Czech Republic, where roughly 100 jobs are to be cut.
The automotive industry is now facing a number of issues due to weak car sales in the region and competition from Asian manufacturers offering cheaper electric cars.
Valeo is one of the largest employers in the car industry in the Czech Republic. It has almost 4,500 employees at its six manufacturing sites.
Globally, the Group employs 113,600 people in 29 countries worldwide.
Eurofound (2024), Valeo, Internal restructuring in Czechia, factsheet number 202014, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202014.