Valeo commits to no France job losses in next two years | Automotive Industry News

Valeo commits to no France job losses or plant closures for upcoming two several years

Valeo claims it will keep all its sites in France open up with no compulsory redundancies in the upcoming two several years.

The French provider has signed a the vast majority agreement for competitiveness and collective performance with French unions, CFE-CGC and FO.

3 months back, faced with an automotive sector severely impacted by the disaster induced by the pandemic, Valeo’s management begun conversations with labour organisations aimed at preserving the competitiveness of its sites in France.

Valeo notes the Settlement for Competitiveness and Collective Functionality, which is the fruit of 8 rounds of negotiations, will decrease payroll expenses and protect the competitiveness of the Group’s French functions, with no impact on employment.

In the agreement, Valeo has produced what it claims is a “agency commitment” to keep all its sites open up and chorus from any compulsory redundancies in France in the course of the upcoming two several years.

“We have selected the collective bargaining route in order to entail the labour organisations in the decisions that have to have to be taken in reaction to the disaster,”stated Valeo chairman and CEO, Jacques Aschenbroich.

“The success of these negotiations display this was a sensible decision. And, as we have finished in the course of the past 10 several years, a period of time in the course of which we have invested practically EUR2bn (US$two.4bn) in France, we will continue on to invest in new technologies these types of as 48V.”

Valeo employs close to thirteen,500 men and women in France throughout 23 crops and fourteen R&D centres.