French car parts supplier Forvia aims to cut 10,000 jobs, or more than a tenth of its workforce, saying it was bracing for an influx of Chinese competition in Europe as suppliers follow automakers to the region.
The group, one of the world’s biggest producers of car seats and dashboards, said it was “immediately and drastically reducing recruitment in Europe” as part of efforts to boost margins in the region, where it has struggled with overcapacity.
The job cuts would be spread over five years, Forvia said, and would be mainly carried out by replacing departing staff and cutting back on temporary employees. It usually has an attrition rate of about 2,000 people a year, while staff stood at 75,000 at the end of last year.
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