Overview
- Management and employee representatives agreed immediate measures targeting about €500 million in annual savings by 2027, including delayed wage increases, reduced weekly hours for Division E staff and changes to special payments.
- The reductions are included within the previously announced plan to cut up to 14,000 jobs in Germany, with departures to be pursued primarily through voluntary exits, early retirement and transfers.
- Voluntary severance programs begin in mid-October, while decisions on whether to keep producing e‑motors and inverters in-house or source them from partners are due in the coming weeks.
- ZF will narrow Division E’s portfolio by ending development of on‑board chargers, DC‑DC converters and electric beam axles, focusing instead on thermal management systems and the next 8HP hybrid transmission.
- New CEO Mathias Miedreich unveiled the package on his first day as ZF reported a €195 million first‑half loss and net liabilities of about €10.5 billion.