The world’s biggest airbag and seat belt manufacturer, Swedish company Autoliv, has decided to shut down four of its foreign factories in France, Germany, Mexico and Tunisia. As a result, 820 company employees will lose their jobs.
The company was forced to adopt this measure as part of a cost-cutting plan developed to deal with the seriously decreased orders that resulted from the general decrease of the automotive market.
The seat belt assembling plant in Tunisia … (read more)