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Massive job cuts at ZF: 4,000 jobs in Schweinfurt at risk!
ZF plans to cut up to 4,000 jobs in Schweinfurt. The critical market situation forces a restructuring course.
Massive job cuts at ZF: 4,000 jobs in Schweinfurt at risk!
In Schweinfurt the air is getting thin for many employees of the renowned automotive supplier ZF. The group, which employs around 160,000 people worldwide, is planning massive job cuts of up to 4,000 jobs at its location in the Franconian city. The company is struggling with debts of over ten billion euros and is forced to become more profitable given the difficult market situation. When asked what happens next, the Chairman of the Board, Dr. Holger Klein is clear: a “performance program” and a strict “restructuring course” are needed to secure the future of the company. [Merkur].
The general works council estimates that the number of jobs affected could be between 3,000 and 4,000 by 2030. The works council chairman Oliver Moll expects a reduction of at least 800 to a maximum of 4,000 jobs, depending on the next negotiation results with IG Metall. These discussions are already in full swing to determine the exact number of job cuts. The negotiations should be completed by September 30th at the latest.
Worries about the future
In view of the threat of layoffs, employees' nerves are tense. Protests have already taken place at various ZF locations, including in Nuremberg and Auerbach. Similar cuts are planned there: in Nuremberg the workforce could be reduced from 1,000 to 300, while in Auerbach up to 1,500 jobs are at risk. Employees are understandably concerned about their future and many have put forward creative cost-cutting proposals to protect their jobs. [BR].
The situation in the entire German auto industry is critical, with job cuts of over 50,000 jobs in recent years. Tagesschau reports a decline of 51,500 jobs in just one year, which corresponds to almost seven percent of jobs in the industry. The causes include slumping sales, competition from Asia and the costly switch to electromobility. The industry is forced to rethink its business models, and the divisions of major manufacturers such as Mercedes-Benz and VW are already showing the first signs of cuts.
What does this mean for employees in the region? The future remains uncertain and there is hardly any excess of optimism. Fears of deindustrialization in Germany are increasing, and this trend could continue, especially in the automotive industry, which was once the backbone of the German economy. For young engineers in particular, this development could have negative consequences for their career opportunities.
The fate of the employees at the ZF plant in Schweinfurt is emblematic of the challenges that the entire industry has to overcome. Whether and how the company manages to turn things around will have a decisive impact on the coming months.