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
420 jobs Number of planned job losses
Announcement Date
26 June 2024
Employment effect (start)
26 June 2024
Foreseen end date
30 June 2026
Description
The automotive supplier Forvia Hella has announced the reduction of 420 jobs at its headquarters in Lippstadt, North Rhine-Westphalia.
The company cites losses totalling 50 million euros that have been generated at the Lippstadt site over the past two years as the reason. The background of this restructuring programme is that significantly fewer cars are being sold in Europe. The market for electric cars in particular has collapsed. As a result, fewer headlights, tail lights and electronic control units are needed. In addition, production in Lippstadt is more expensive compared to the global locations, according to the Hella management.
Overall, the plan is to cut around 420 permanent jobs in lighting production at the Lippstadt site. The job cuts are to be carried out as socially responsible as possible. The personnel adjustments should be completed by mid-2026 at the latest. According to the company, talks with employee representatives will begin shortly.
Forvia Hella employs around 37,500 people at more than 125 locations worldwide, including around 7,800 employees in Germany of which around 4,200 employees work in Lippstadt. The company generated consolidated turnover of €8.1 billion in the 2023 financial year.
Sources
26 June 2024: Forvia Hella Press release (www.hella.com)
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