Forvia to Cut 10,000 Jobs to Better Compete in EV Transition
02/20/2024 06:15
Auto-parts supplier Forvia SE is poised to cut roughly 13% of its European workforce over the next five years, with plans to tap artificial intelligence to better compete with Asian rivals in the shift to electric cars.
Auto-parts supplier Forvia SE is poised to cut roughly 13% of its European workforce over the next five years, with plans to tap artificial intelligence to better compete with Asian rivals in the shift to electric cars.
The French company’s effort to slim down by about 10,000 jobs includes changes to regional manufacturing and spending on research and development, Chief Executive Officer Patrick Koller said Monday. This would improve profit margins and keep pace with the industry’s fundamental changes, he said.