Valeo announced Thursday that it will cut around 1,000 jobs in Europe and close two sites in France.
French car parts supplier’s cuts will impact more than 800 workers in France, cites Reuters. According to sources, Valeo plans to also cut staff at operations in Germany, Poland, and the Czech Republic.
In October, Valeo reduced its annual sales guidance as competition from Asia created slow orders in Europe and France, which sparked the job cuts.
Other companies cutting jobs include Michelin (1,250) and French-Italian carmaker Stellantis, who announced plans to shut its Vauxhall van factory in southern England. Ford also announced it would cut around 14% of its European workforce.
