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 29.32 - Manufacture Of Other Parts And Accessories For Motor Vehicles
1,000 jobs Number of planned job losses
Announcement Date
16 July 2024
Employment effect (start)
1 January 2025
Foreseen end date
Description
Valeo, a French automotive equipment supplier, has announced the closure of three production facilities in France, putting approximately one thousand jobs at risk. This follows the company's earlier announcement in January 2024 of a global reduction of 1,150 employees Valeo 2024 - WO including 235 job cuts in France. The affected employees work on the sites at L'Isle-d'Abeau (350 employees, Isère), La Suze-sur-Sarthe (270 employees, Sarthe) and the R&D centre at La Verrière (Yvelines). Despite actively seeking buyers for these facilities, Valeo's struggles are attributed to its failure to adapt to emerging challenges in the vehicle market, particularly the shift towards electronic vehicles and the need to comply with new ecological standards in car manufacturing. The management has to agree a social plan with the trade unions which will give a breakdown of the departure between forced dismissals, voluntary departures, relocations... It should be signed before the end of 2024 according to the usual practice in such large group.
Eurofound (2024), Valeo, Closure in France, factsheet number 201407, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201407.
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