This will mean a reduction of 13% of the current 75,500 people, primarily through attrition and drastically reduced recruitment.

The move comes as a result of the supplier focusing on artificial intelligence to optimise spending and compete with Asian rivals.

Chief Financial Officer Olivier Durand said: “Our attrition rate is 2,000 to 2,500 people a year. So, in fact, the plan does not mean making 10,000 people redundant at all. What it does mean is that we need to ensure that recruitment is limited to what is strictly necessary.”

Source: Automotive News Europe