Faurecia

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.32 - Manufacture of other parts and accessories for motor vehicles
1,500 jobs
Number of planned job losses
Job loss
Announcement Date
13 November 2012
Employment effect (start)
1 January 2013
Foreseen end date
31 December 2013

Description

Car equipment manufacturer Faurecia has announced to cut about 1,500 positions by 2013 in Western European countries. These cuts come on top of 1,500 positions that were already cut in 2012. It has yet to be specified where exactly the job cuts will be implemented. The management explained that it is reacting to the downturn of the automotive market.

Faurecia, a subsidiary of PSA Peugeot-Citroën, employs 43,000 employees in Europe and a total of 84,000 world-wide. It is reported that by 2016 more than half of their European employees will work in Eastern Europe, where Faurecia expect to build seven plants.

Sources

  • 13 November 2012: Les Echos

Citation

Eurofound (2012), Faurecia, Internal restructuring in European Union, factsheet number 74489, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74489.