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

Valeo commits to no France career losses or plant closures for future two years

Valeo claims it will hold all its websites in France open with no compulsory redundancies in the future two years.

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

A few months ago, faced with an automotive sector severely impacted by the disaster triggered by the pandemic, Valeo’s administration begun discussions with labour organisations aimed at preserving the competitiveness of its websites in France.

Valeo notes the Settlement for Competitiveness and Collective Overall performance, which is the fruit of eight rounds of negotiations, will minimize payroll charges and protect the competitiveness of the Group’s French operations, with no impact on employment.

In the settlement, Valeo has designed what it claims is a “firm motivation” to hold all its websites open and refrain from any compulsory redundancies in France in the course of the future two years.

“We have preferred the collective bargaining route in order to entail the labour organisations in the selections that require to be taken in response to the disaster,”stated Valeo chairman and CEO, Jacques Aschenbroich.

“The results of these negotiations show this was a sensible selection. And, as we have completed in the course of the earlier 10 years, a period of time in the course of which we have invested practically EUR2bn (US$two.4bn) in France, we will continue to commit in new systems this kind of as 48V.”

Valeo employs around 13,500 persons in France across 23 vegetation and fourteen R&D centres.