BERLIN, Jan 27 (Reuters) - German automotive supplier Aumovio announced on Tuesday plans to cut up to 4,000 jobs worldwide by the end of the year as it restructures its research and development
German auto supplier Aumovio plans to cut up to 4,000 jobs
Aumovio's Global Job Cuts
BERLIN, Jan 27 (Reuters) - German automotive supplier Aumovio announced on Tuesday plans to cut up to 4,000 jobs worldwide by the end of the year as it restructures its research and development activities in a challenging market environment.
Locations Affected by Job Cuts
The cuts are to take place in India, Singapore, Romania, Serbia, Germany and Mexico, the company said in a statement.
Company's Future Strategy
Aumovio said it has entered a cooperative dialogue with employee representatives in Germany, where the company sees a need to reduce positions in their high hundreds, with the aim of finding alternatives to boost efficiency.
"We are focusing on value-creating technologies, investing in future-oriented fields, and leveraging both new and proven partnerships," CEO Philipp von Hirschheydt said in a statement of the restructuring.
(Reporting by Rachel MoreEditing by Madeline Chambers)
