A major parts supplier for brands including Tesla, VW, and Ford will cut upwards of 10,000 jobs in Europe over the coming five years. Making up for the reduction in the workforce will be an increased reliance on artificial intelligence.
Forvia, the 7th largest international parts manufacturer, will slash its European workforce of 75,500 people by 13%. It will do so primarily through attrition and reduced recruitment. In addition to cutting jobs, it plans to reduce costs by making regional manufacturing changes and, using artificial intelligence, tweaking and optimizing spending on research and development.
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