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.
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By GlobalDataAdditionally, 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.
