ZF to shed up to 14,000 jobs in Germany by the end of 2028
By Bradley Osborne - 23rd August 2024
Germany – ZF Friedrichshafen AG, a mobility products and systems supplier based in Friedrichshafen, Baden-Württemberg, has announced that it plans to substantially reduce its workforce in Germany by the end of 2028, citing economic pressures and higher automation as factors which informed the decision.
Across its many German locations, ZF intends to shed between 11,000 and 14,000 employees over the next four years (from a current total of approximately 54,000) in order to cut costs and consolidate its operations. In the past decade, the group made several acquisitions, adding considerably to its industrial footprint and its workforce. Now, the group aims to slim down its business, particularly in the Electrified Powertrain Technologies division, which is negatively affected by “strong competition, cost pressure and weak demand for electric vehicles”.
