ployees at Bosch Engineering in Germany -The Company announced a plan to cut the working hours of 2,300 employees at its subsidiary, Bosch Engineering GmbH, which specializes in developments in the automotive sector. The decision is due to the tense situation in the mobility sector and the existing overcapacity and high-cost pressure. Starting in October 2024, weekly hours will initially be reduced from 40 to 37 hours, with a further hour to be c...

Major Suppliers  Updated at: 2025/05/23

ring and sales of drive parts for NEVs. (From a Taicang press release dated January 31, 2023) Schaeffler AG (Schaeffler) announced that it will cut 1,300 positions worldwide, mainly in the Engine & Transmission Systems business of its automotive division. Schaeffler decided to adjust because of the overcapacity in products, especially for internal combustion engine vehicles, due to the accelerating transformation to electrification. This restruct...

Major Suppliers  Updated at: 2025/05/09

n by the end of 2022 at the latest. In addition to financial compensation, the social plan includes numerous measures to provide the best possible support for affected employees during the transformation phase. The discontinuation of production in Aachen is unavoidable due to the massive structural overcapacity in the European tire market. It has not been growing for several years and a recovery in market demand is not expected in the foreseeable...

Major Suppliers  Updated at: 2025/04/22

tinue to keep a high presence in France, notably through sales and retail operations with about 3,500 employees. Given the challenging long-term evolution of the industry in the European passenger tire market, Bridgestone has to consider structural measures to ensure the reduction of its production overcapacity and improve its cost efficiency. Bridgestone intends to minimize the impact on the region as much as possible by deploying a solid employ...

Major Suppliers  Updated at: 2025/04/18

and administration. Meanwhile, an additional 6,000 jobs will be transferred to external service providers or eliminated through the sale of business activities. This plan is a part of the company's future industrial strategy in response to structural changes in the European steel market, including overcapacity and increasing cheap imports from Asia. (From a press release dated November 25, 2024)  ThyssenKrupp Carbon Components and Maxion Wheels...

Major Suppliers  Updated at: 2025/03/13

ive business performance in the Americas and Asia regions, with the Asia region serving as the primary growth engine for the Company. This will be offset by headwinds in the Company’s Europe segment caused by factors including weakening regional demand, increased competition from Chinese imports, overcapacity, decreased exports, and decreased BEV production growth. As such, the Company has begun a multi-year plan to improve performance and prof...

Major Suppliers  Updated at: 2025/03/11

ndia Honda, hybrid "IMA" launched in Japan Hayes Lemmerz supplies steel wheels for Wabashi National Hayes Lemmerz International, Inc. announced that it will close its aluminum wheel facility in Gainesville, Georgia by the end of December 2008. The closure is the result of global overcapacity in the light vehicle aluminum wheel market and increasing aluminum wheel imports into North America from low cost countries. The Gainesvi...

Major Suppliers  Updated at: 2024/10/03

be trading under the new name Marlok Automotive GmbH. (From a press release on Jul 23, 2008) Visiocorp plc announced that it will concentrate the output of its Spanish factories at its plant located in Epila (Zaragoza). With this move the company will consolidate its production in Spain and reduce overcapacity in the Liria plant. The plant in Zaragoza has greater technical capacity and infrastructure such as a paint shop. This enables Visiocorp ...

Major Suppliers  Updated at: 2024/09/27