EMCC European Monitoring Centre on Change

Valeo

Company/Organisation:
Valeo

Geographic Location

Country: Germany
Region: Hochtaunuskreis; Darmstadt; Hessen
Location of affected unit(s): Friedrichsdorf

Company

Sector: Manufacturing
Manufacture of transport equipment
29.3 - Manufacture of parts and accessories for motor vehicles
Number Employed: 600

Employment Effects

Announcement Date: 16-10-2020
Planned Job Reductions min: 150
Planned Job Reductions max: 150
Type of Restructuring: Internal restructuring
Employment Effect Start: 16-10-2020

Additional Information

As announced on 16 October 2020, the French automotive supplier Valeo will be cutting 150 jobs at its plant in Friedrichsdorf due to internal restructuring. The step comes as a bit of a surprise because Valeo had previously announced that it will not be cutting any jobs on its home market in France. Nevertheless, Valeo – like other automotive suppliers has been hit hard by the COVID-19 crisis and is facing losses of €1.2 billion for the first half of 2020.  

As of today, there is only little information on the job reduction available, however, negotiations between management, trade union and works council will start shortly, after which there will be more clarity on further proceedings.  

Valeo has 600 employees in Friedrichsdorf and 8,000 employees in total at eight sites in Germany.