Car Equipment Manufacturers: job cuts
Posted by admin | Under Uncategorized, finance, life, money, news Tuesday Feb 9, 2010Automotive suppliers will even remove tens of thousands of jobs in 2010. This is reflected in the report prepared as part of the Committee in Support of subcontractors motor development by Christian Estrosi last September, whose findings were released last November. In the newspaper Les Echos this Monday, we learn that it is 40,000 to 50,000 jobs are threatened in France.
Currently, industry professionals, such as Michelin, Valeo and Faurecia still revolve overstaffed by about 25,000 jobs to outsourcing and 14,000 for the equipment of one rank, that is to say those who deal directly with major manufacturers."By adjusting the calculation from the future evolution of automobile production lights and possible productivity efforts, the Task Force falls even on an estimate of 40,000 to 50,000 jobs too," reads in columns the business daily.
The job cuts have already begun. Already, in late December, all suppliers were documenting 265,000 employees, or 35,000 fewer than in 2008, and 55,000 fewer than in 2005. Plans starts or closings of sites, almost all companies have downsized.
Positions on an ejection seat
Thus, 2010 will be another year of unrest in the area. Last year, pressure from Molex or Continental was rising power.
According to the Committee Estrosi, all branches, with the exception of the forge would be affected.The report mentions the possible disappearance of 7 out of 10 jobs in the molds and tooling in just two years, reports Les Echos. In rubber, overstaffing are estimated to 5,300 jobs from a total of 46,500.
The radar screens already viewing site closures. As the unit of Plastic Omnium Sandouville or that of Noyelles les Seclin Michelin.Furthermore, Visteon should further reduce its workforce, for example on the website and that of Gondecourt Renault Flins.
Moreover, the stress that a reorganization Echos – Meeting of the eleven branches in three areas – at Valeo lead to further job cuts, especially "in the administrative and executive officers," according to a coordinator CFE-CGC.
Ways to do better
This commission set up by Christian Estrosi, comprising manufacturers, suppliers, subcontractors, trade associations, research organizations, trade unions and elected officials, was intended to provide short-term measures to support sub-contractors in trouble, d 'solutions to better anticipate and better support the structuring of the industry .
Following the presentation of findings, Christian Estrosi and had announced last November some measures. Since the creation of a fund within the Fund for the Modernization of Automotive (FMEA) for sub-contractors of rank 2 and up. It especially allows easier access for SMEs (Small and Medium Enterprises) of the automotive industry to 2 billion euros managed by OSEO and the ISP for the strengthening of equity or quasi equity, established under the plan SME financing.
On the accompanying measures of economic and strategic changes, the state funding of strategic diagnosis for SMEs in the sector is provided for those who request it. Also, a platform or "stop" will be formed under the auspices of the Prefect, to inform SMEs.In addition, a working group on employment trends in the automotive industry has been launched. As a "scientific board" to provide a technical and manage the excess capacity of different sectors.
Regarding measures related to innovation, the government called for better coordination between clusters Motor (MOVEO, ID4Car, Car of the Future).
Christian Estrosi had said in late November that he was "very attentive to the establishment of partnership relations with all suppliers, large or small. A similar quality and price, was the preferred logic ecosystem around local produce suppliers.
The Exchange requested evidence
At the Paris Stock Exchange on Monday, Michelin lost 0.9% to 53 euros, Valeo drops 1.9% to 22.2 euros, Faurecia coward 1.33%, to 14.4 euros and sells Plasctic Omnium 1 13% to 25.4 euros.These companies sign strongest stock declines in the automotive sector.
For Paris-based analyst, "this plan is good news for the French automotive industry because it sends a strong signal of government support." He said he especially aims to create a shock in the short term."In market terms, it is likely that this plan has already been partially played, and he must demonstrate its ability to limit the drop in auto sales scheduled in the months to come," he said.
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