VCST Industrial Products

Type
Internal restructuring
Country
Belgium
Region
Vlaams Gewest; Prov. Limburg (BE); Arr. Hasselt
Location of affected unit(s)
Sint-Truiden
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
171 jobs
Number of planned job losses
Job loss
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.

Sources

Citation

Eurofound (2020), VCST Industrial Products, Internal restructuring in Belgium, factsheet number 100789, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100789.