Europe's Auto Parts Sector Cuts Over 100,000 Jobs in Two Years Amid Intensifying EV Transition Pressures

Over the past two years, Europe's automotive parts industry has announced layoffs exceeding 100,000 workers—54,000 in 2024 and another 50,000 scheduled for 2025. The sector continues to face mounting pressure due to low consumer adoption of electric vehicles, weak domestic demand, and intensifying global competition. Bosch plans to cut 13,000 jobs by 2030, while other major suppliers—including Valeo, Faurecia, Schaeffler, and Continental—have also implemented significant workforce reductions. Although the European Union is proposing a "Made in Europe" policy requiring 75% local content for key components to safeguard domestic supply chains, automakers worry that rising costs could erode their competitiveness. Amid this painful transition, the industry’s outlook remains uncertain.