Overview
- Voith expects to reduce up to 2,500 positions, roughly a tenth of its about 22,000 employees worldwide.
- No decisions have been made on specific locations, divisions or functions, with options to be reviewed in the coming weeks.
- The company reported a €247 million consolidated loss on €5.23 billion in revenue for fiscal year 2023/24.
- CEO Dirk Hoke says the plan seeks to streamline processes, accelerate innovation and steer investment toward service, digital offerings and growth regions.
- Industry pressures persist as VDMA projects a further 5% production decline in 2025, notes factory utilization at 78.3% and a 2.4% drop in employment, and cites U.S. tariffs as a burden.