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International Business Times

Business

Sebastien ASH

Electric Car Woes Force German Supplier ZF To Axe Jobs

ZF said it is facing less demand for parts for conventional vehicles -- like this transmission -- while demand for electric vehicles has also been weak (Credit: AFP)

German car parts manufacturer ZF said Friday it would cut a fifth to a quarter of jobs in Germany as it struggled with the switch to electric vehicles and foreign competition.

"The number of employees in Germany is to be successively reduced by 11,000 to 14,000 from the current level of around 54,000 by 2028," ZF said in a statement.

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