08.05.2026 11:51
Autoliv, the world's largest automotive safety systems manufacturer, has decided to cease its production activities in Turkey. The company, which will shift production of steering wheels, airbags, and seat belts to other facilities in the region, is expected to fully close its factories by the first half of 2028. Approximately 2,200 employees will lose their jobs as a result of this decision.
Automotive safety systems manufacturer Autoliv has decided to halt its production activities in Turkey. The company announced it would relocate the production of steering wheels, airbags, and seat belts to other facilities in the region.
HUNDREDS OF PEOPLE WILL BECOME UNEMPLOYED
The gradual closure process is planned to be completed in the first half of 2028. Under the decision, approximately 2,200 people working in Turkey operations will be laid off. The company stated that although it will close its factories in Turkey, sales and customer support units will continue their operations.
COST AT $142 MILLION
Autoliv announced that the restructuring process will cost the company approximately $142 million. The majority of this amount is expected to be reflected in the balance sheet in the second quarter of 2026.
It was stated that cash expenses will be around $129 million, with the bulk consisting of severance pay and employee retention costs. The company also reported that it based its calculations on an average exchange rate of 53 Turkish Lira per dollar.