Automotive Tier 1 supplier Autoliv has announced its intention to reduce its headcount in France.
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The move is related to the ‘indirect headcount reduction initiative’ that was announced in June this year.
The reduction will “significantly strengthen” Autoliv’s competitive position long-term, it said, citing the need to adapt to a “substantially lower level” of light vehicle production in post-pandemic Europe.
Its workforce in France will be cut by approximately 20%, or 320 employees.
It is expected to take place in H1 of 2024, being fully implemented by the end of 2025.
Additionally, Autoliv intends to relocate its steering wheel manufacturing in France to other plants.
Magnus Jarlegren, President Autoliv Europe said: “By these actions, we continue to build our market leadership.”
The workforce cuts in France are expected to generate savings of around $10 million in 2024, reaching around $20 million in 2025 and around $25 million in 2026 when fully implemented.
