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2mo ago

ZF Friedrichshafen Reports €1 Billion Loss as Restructuring Intensifies

The automotive supplier plans to cut 14,000 jobs in Germany by 2028 while grappling with industry headwinds and significant debt.

„2024 hat deutlich gemacht, unter welch enormem Druck unsere Branche steht“, sagt der ZF-Vorstandschef
Ein Ausstellungs-Modell des Autozulieferers ZF an einem Messestand
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Overview

  • ZF Friedrichshafen recorded a net loss of just over €1 billion in 2024, primarily due to €600 million in restructuring costs.
  • The company’s revenue fell by 11% to €41.4 billion in 2024, reflecting weak demand for electric vehicles and broader economic challenges.
  • Plans are in place to cut up to 14,000 jobs in Germany by 2028, representing about one-quarter of its domestic workforce.
  • ZF’s debt burden has risen to €10.5 billion, with high interest payments further straining its financial position.
  • The company is focusing on core business areas and preparing its E-Division for potential partnerships to stabilize operations and support future growth.