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Auto supplier Adient cuts jobs, transfers roles in Europe to shave costs

  • 📰 ChannelNewsAsia
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Automotive seating supplier Adient plc on Monday said it was restructuring its Europe business by cutting jobs and transferring work to countries with lower labor expenses, in a bid to cut costs.

An employee wearing a face mask works on a car seat assembly line at Yanfeng Adient factory in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 24, 2020. REUTERS/Aly Song/ File photo

European automakers face a trifecta of challenges: soft demand due to higher borrowing costs that discourage car purchases, fierce competition from Chinese rivals, and higher input costs squeezing their margins. The company's sales suffered in the first quarter ended Dec. 31, as the UAW strikes affected production volumes in the United States.

 

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