ZF pins e-mobility layoffs on cost pressure, weak demand

German automotive supplier ZF announced on 26 July 2024 that is undergoing a structural realignment for its German locations. The goal of this realignment is to “increase its competitiveness and respond to the changes in the mobility sector, particularly in the field of electromobility.” As part of the restructuring effort, it is likely that a substantial number of ZF employees in Germany will be let go—as many as 14,000. If so, the overall national headcount for the supplier could slip as low as 40,000 employees by 2028.