Restructuring events
European Restructuring Monitor (ERM)
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.
French automotive supplier Forvia, formerly Faurecia, has announced it will cut 116 jobs in Augsburg (Bavaria). The positions are to be eliminated in support as well as in the areas of research and development. According to the company, the reason for the cuts is the transformation of the automotive industry in Europe.
Union IG Metall has raised concerns about the future of the site; the company has not confirmed any decision to close it.
In 2021, Faurecia acquired the automotive supplier Hella and thereafter adopted the name Forvia. Forvia now operates the two brands Forvia Faurecia and Forvia Hella. Around 500 employees currently work in Augsburg. Worldwide, the company has 150,000 employees.
Eurofound (2025), Forvia, Internal restructuring in Germany, factsheet number 203860, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203860.