Apollo Tyres announces job cuts at Netherlands plant

Tyre manufacturing company Apollo Tyres has announced its plan to convert its Netherlands-based plant to convert the facility to cater to some specific segments.

In a filing with the exchange, Apollo Tyres said, “The Management and Works Council (WC) of Apollo Vredestein BV (AVBV), the company’s Netherlands-based subsidiary, has reached an agreement on the specialization of the factory in Enschede, marking the conclusion of the consultation process.”

“Under the agreement, AVBV will retain 737 job positions against the initial 1,265 and continue to focus on high-value segment passenger car types and its earlier capacity for agriculture and Spacemaster tyres,” it added.