October 25, 2020

Jobs: Apollo Tyres to scale back over 500 jobs at Netherlands plant, concentrate on particular segments

NEW DELHI: Apollo Tyres on Tuesday mentioned the administration and staff of its Netherlands-based plant have reached an settlement to transform the power to cater to some particular segments, which might have an effect on greater than 500 jobs. The settlement between the 2 events paves the way in which for the discount of 528 jobs on the Enschede-based manufacturing facility.

“The administration and the Works Council (WC) of Apollo Vredestein BV (AVBV), the corporate’s Netherlands-based subsidiary, have reached an settlement on the specialization of the manufacturing unit in Enschede, marking the conclusion of session course of,” Apollo Tyres mentioned in a regulatory submitting.

Underneath the settlement, AVBV will retain 737 job positions towards the preliminary 1,265 and proceed to concentrate on excessive worth phase passenger automobile tyres and its earlier capability for agricultural and Spacemaster tyres, it added.

Earlier, in March the corporate had mentioned it’ll minimize 750 jobs on the plant over a interval of two years as a way to have a ‘sustainable enterprise’ and concentrate on producing solely high-value tyres.

The house-grown tyre main had acquired Vredestein Banden BV (VBBV) for an undisclosed sum in 2009 from the Russia’s bankrupt largest tyre producer Amtel-Vredestein NV.