The automotive supplier Valeo announced Tuesday that it had cut 12,000 jobs worldwide in the first half, including nearly a thousand in France. The company wants to reduce its costs in the face of the drop in sales caused by the coronavirus crisis. 

The automotive supplier Valeo announced on Tuesday that it had cut 12,000 jobs worldwide in the first half, including nearly a thousand in France, to reduce costs and adapt to the drop in sales caused by the health crisis.

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These workforce reductions have affected "all regions of the world," CEO Jacques Aschenbroich explained during an audio conference with journalists. In Europe, where "a little more than 4,000" jobs have been cut, including "a little less than 1,000" in France, however, there have been no hard layoffs. Valeo on Tuesday published a net loss of 1.2 billion euros from January to June.