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ZF Friedrichshafen: Threatening layoffs plunge hundreds into fear!
Schweinfurt is facing challenges: ZF is planning massive job cuts and working time cuts by 2028 to reduce costs.
ZF Friedrichshafen: Threatening layoffs plunge hundreds into fear!
The corporate landscape in the automotive industry is facing a major upheaval, and ZF Friedrichshafen is right in the middle of it. According to Swabian newspaper Extensive restructuring is planned by 2028, which could result in the loss of up to 14,000 jobs. This not only raises questions about the future of employees, but is also an urgently needed step to address the company's financial challenges.
At the Schweinfurt location, 5,500 employees have already implemented a reduction in working hours from 35 to 32.5 hours per week, a measure that was accompanied by a salary cut. Nevertheless, the works council, represented by Oliver Moll, shows little hope of reaching an agreement to extend this agreement, which expires at the end of June. According to Moll, without an agreement there could be at least 650 redundancies. ZF remains cautious in its statements, but shows a willingness to talk while uncertainty among employees grows.
Background of the restructuring
The need for these drastic cost-cutting measures results from the high debt that ZF has accumulated through acquisitions of Wabco and TRW Automotive. In addition, companies in the automotive industry are in crisis mode, which is reflected in frequent reports of factory closures and job cuts, such as car motor and sport reported.
In order to meet the challenges of the transformation to electromobility, ZF is relying on a profound realignment. At the beginning of May, the working hours of around 2,800 employees at the headquarters in Friedrichshafen were reduced, which once again fueled fears of job losses. Thanks to these measures, ZF expects savings in the double-digit million euro range. The company's executives are also helping to reduce costs, including by suspending salary increases.
Reactions from employees and the industry
The mood in the German automotive industry is at a low point, the Ifo Institute reports a pessimistic view of the coming months. These concerns are compounded by further reports of job cuts, such as those at Bosch, Ford and Nissan. Schaeffler is also planning to cut around 4,700 jobs, with a particular focus on employees in the development teams.
Given these circumstances, the Schweinfurt location becomes a test case for ZF's strategy. The company announced that it would temporarily reduce working hours in the central areas from 35 to 31.5 hours per week in order to take the economic conditions into account. These measures are seen as a response to the profound change in the industry and will apply until the end of March 2026 ZF itself communicated.
The situation is tense, and as the industry looks for new ways to remain competitive, ZF employees are both worried and unsettled. The coming months will show whether the savings actually bring about the desired results or whether the fears of further layoffs become reality.