ZF accelerates job cuts

German auto parts supplier ZF is accelerating the pace of labor cost reduction. The 2,900 job cuts originally planned to be completed by 2030 are expected to be completed by 2026. The layoffs mainly affect its Saarbrücken plant in Germany, which is ZF's most important automatic transmission production base and currently has about 9,000 workers. Public data shows that ZF has about 165,000 employees worldwide and about 50,000 employees in Germany. German auto parts manufacturer Bosch Group also announced plans to lay off 1,200 employees by 2026, including 950 in Germany. The layoffs are mainly concentrated in the Intelligent Driving and Control Systems Division (XC).