Type
Closure
Country
Portugal
Region
Continente; Norte; Grande Porto
Location of affected unit(s)
Santo Tirso
Sector
Manufacturing
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.3 - Manufacture of parts and accessories for motor vehicles

339 jobs
Number of planned job losses
Job loss
Announcement Date
14 April 2004
Employment effect (start)
14 April 2004
Foreseen end date
31 December 2004

Description

The French company Valeo announced its closure. The measure will affect 339 workers. According to the management, there will be no collective dismissal, as they will resort to voluntary departures accompanied by special benefits. Management states the lack of work to justify the measure. Unions consider it another case of delocalisation to countries where the workforce is cheaper (the group already has a plant in Morocco). Valeo benefited, in October 2001, of a State subsidy of 8,000 euros. Valeo is installed in Santo Tirso since October 2000 and has 25 plants in the whole world where it employs 67,000 people.


Sources

  • 14 April 2004: P├║blico

Citation

Eurofound (2004), Valeo, Closure in Portugal, factsheet number 60292, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60292.