FRANKFURT May 4 Canadian auto parts maker Magna
International plans to cut jobs in Europe and the United
States as it seeks to reduce costs and offset weak demand in
Europe, Chief Executive Donald Walker told German magazine
Magna, which also manufactures complete vehicles on a
contract basis, has been pushing to turn around inefficient
operations in Europe, where sales rose 2 percent in 2012,
compared with a 10 percent increase in North America.
Magna needs new orders for its factory in the Austrian
province of Styria and wants to facilitate getting those orders
by cutting costs, Walker said.