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
1,068 jobs Number of planned job losses
Announcement Date
28 November 2024
Employment effect (start)
28 November 2024
Foreseen end date
Description
French automotive equipment manufacturer specializing in electronic and lighting systems Valeo has announced plans to cut about 1,068 jobs in Europe.
The company plans to eliminate 868 jobs at its eight sites in France, including 694 involuntary departures and 174 voluntary redundancies. The restructuring will involve the closure of two facilities in La Verrière and La Suze-sur-Sarthe. VALEO-2024-FR
Additional reductions of up to 200 positions are planned in Germany, Poland, and the Czech Republic. In Czechia, Valeo plans to cut 100 jobs at its four sites across the country VALEO-2024-CZ.
The restructuring plan will be negotiated with the European Group Works Council. The job cuts are part of Valeo’s efforts to streamline operations amid delays in vehicle production launches and challenges in the transition to electric vehicles. Valeo is adapting its industrial footprint to navigate reduced automobile production and increased competition in the EV sector.
Headquartered in France, Valeo is a leading global supplier of products to automakers and the aftermarket. The group employs 109,900 staff in some 30 countries worldwide. Valeo has 183 production sites and 65 R&D centres.
In January 2024 the company had already started a process of reduction of 1,150 roles in its global and european workforce VALEO-2024-WO.
Eurofound (2024), Valeo, Internal restructuring in European Union, factsheet number 202106, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202106.
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