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
200 - 300 jobs Number of planned job losses
Announcement Date
29 June 2007
Employment effect (start)
1 October 2007
Foreseen end date
1 January 2010
Description
Faurecia France, the auto parts subsidiary of the French car maker PSA Peugeot Citroen SA, announced on 29 June 2007 that it is planning to cut between 200 and 300 jobs at its site in Flers (Orne) between October 2007 and January 2010. According to the company there will be no dismissals and the cuts will be done on a voluntary basis. Faurecia blames the cuts on financial difficulties brought about by a decline in the global automotive market. PSA, who has confirmed that it has no plans to sell its 70% stake in Faurecia, is undergoing its own restructuring process designed to reduce costs and increase its market share in Europe, the Americas and China.
Sources
29 June 2007: AFP
2 July 2007: Les Echos
Citation
Eurofound (2007), Faurecia, Internal restructuring in France, factsheet number 65559, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65559.
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