08:35 AM EDT, 04/22/2024 (MT Newswires) -- Adient (ADNT) said in a regulatory filing Monday that it is implementing restructuring plans in Europe aimed at reducing operating, administrative and engineering costs, mainly through job cuts and moving work to countries with lower labor costs.

The automotive seating manufacturer said the restructuring plans, which were initiated March 31, are in response to structural changes in the European automotive market. It also said it notified the affected employees earlier Monday.

Adient said it expects to incur a restructuring charge of approximately $125 million in fiscal Q2, which will be primarily related to termination benefits in Europe. However, the company added that when the restructuring plans are complete, it expects approximately $60 million in reduced annual operating costs, approximately 80% of which will result in net savings.