COPENHAGEN (Reuters) - Sweden's Autoliv said on Monday it plans to lay off about 320 employees at its major plants in France and to relocate manufacturing to other sites as part of the car parts maker's global cuts announced in June.
The measures in France are expected to generate savings of about $10 million in 2024, reaching around $20 million in 2025 and around $25 million in 2026 when fully implemented, Autoliv said in a statement.
Layoffs of 220 people would primarily be made within production overhead, but functions such as sales, research and administration were also affected, Autoliv said, while around 100 jobs would be cut on the company's production lines.
(This story has been corrected to fix the number of layoffs to 320, not 220, in the headline, to clarify that manufacturing, not staff, is to be relocated in paragraph 1, and to add that around 100 jobs are to be cut on production lines in paragraph 3)