Valeo, the French automotive supplier, has announced its intention to implement a reorganization plan that will result in over 1,000 job cuts across the globe. This move comes as the company aims to enhance its competitiveness and efficiency within the context of vehicle electrification.
As part of the plan, Valeo will consolidate its powertrain and thermal systems divisions. This restructuring effort has been confirmed by a spokesperson for the company, in line with information obtained from reputable French newspaper Les Echos.
The elimination of 1,150 positions is expected, with 735 jobs being cut in Europe and 235 in France. The focus will primarily be on support and supervisory roles. Valeo plans to offer a voluntary departure scheme, alongside support and internal mobility initiatives, to those affected by the job cuts.
The reorganization plan was recently presented to the unions and is part of Valeo's broader commitment to adapt to changing market dynamics. Currently, the company employs approximately 110,000 individuals worldwide, with nearly 13,000 based in France.