Renault, ZF Friedrichshafen each to cut up to 15,000 jobs

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Filed under: Hirings/Firings/Layoffs,Plants/Manufacturing,Renault

German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10%, by 2025 as a result of a slump in demand, according to a memo on Thursday. ZF, which helps carmakers develop gearboxes and hybrid drivetrains, said in an email to employees that half of the 12,000-15,000 job cuts would be in Germany. "As a result of the demand freeze on the customer side, our company will make heavy financial losses in 2020," chief executive officer Wolf-Henning ScheContinue reading Renault, ZF Friedrichshafen each to cut up to 15,000 jobs

Renault, ZF Friedrichshafen each to cut up to 15,000 jobs originally appeared on Autoblog on Thu, 28 May 2020 16:00:00 EDT. Please see our terms for use of feeds.



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