Overview

• Brose plans to cut 950 jobs at high-cost locations worldwide, including Germany, the USA, and China, to streamline its administration.
• Bosch is set to eliminate thousands of jobs, with specific reductions in its development, administration, and sales departments by the end of 2025.
• ZF Friedrichshafen faces financial strain with plans to cut up to 25% of its German workforce due to high debt and market decline.
• Continental intends to spin off its automotive division and has already reduced 5,000 positions as part of its restructuring efforts.
• The automotive sector's downturn is exacerbated by Chinese manufacturers increasing market share, leading to potential overcapacity in Europe.