The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture Of Parts And Accessories For Motor Vehicles
10,000 - 12,000 jobs Number of planned job losses
Announcement Date
17 January 2024
Employment effect (start)
17 January 2024
Foreseen end date
31 December 2029
Description
The German automotive supplier ZF Friedrichhafen AG is planning to cut approximately 12,000 jobs in Germany until 2030 due to internal restructuring, as announced on 17 January 2024. The ZF Board of Management presented the figures to the works councils before Christmas. This information has now been passed on to the employees, with 10,000 jobs to be lost by 2028. The company did not comment on the figures mentioned but explained that it could understand the employees' concerns and that the order situation looked poor. The automotive industry has been in crisis for some time and production has been declining since 2018.
Management intends to start negotiations with employee representatives soon.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
