Adient to shut two Czech plants, cut jobs; shares down

Adient

23/09/2024 16:58

** Car seat maker Adient's shares  ADNT.N  fall 3% to $21.97
    ** Company to close down two Czech production plants, cut
1,100 jobs as part of earlier announced restructuring of Europe
business
    ** In April, company said it was restructuring its Europe
business by cutting jobs and transferring work to countries with
lower labor expenses, in a bid to cut costs
    ** YTD, stock had fallen 39.6% 

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))