AGC Glass Europe has announced there will be 95 redundancies made at the company’s headquarters in Louvain-la-Neuve, Belgium.
At a meeting of the Works Council, it announced its intention to make structural reductions in its fixed costs in order to limit the losses that are looming in the next few years.
The reductions will include 95 redundancies out of a total of 606 employees at the HQ which houses the management of all the group's operations in Europe together with the transversal support operations.
Jean-Marc Meunier, CEO of AGC Glass Europe and European President of the AGC Automotive Company, said: "The forecast level of car production in 2021 is 15 million vehicles, compared with 19 million in 2019.
“Even if output increases by one million vehicles per year, the industry will not see a return to its 2019 level until 2024."
In the meantime, the still uncertain recovery in the construction industry by itself will not be enough to stem the losses which the group expects to incur up until 2023.
AGC Glass Europe will consult with the personnel representatives to consider all the possible solutions which are the most socially acceptable in order to implement this plan.