Mahle Group, Stuttgart, Germany, one of the world’s largest automotive suppliers, has announced that it is seeking to reduce its workforce by 7,600 employees as the company restructures in response to the industry slump caused by the coronavirus (COVID-19) pandemic, reports Automotive News Europe.
The group’s management is reportedly now entering talks with labour representatives on the 7,600 ‘excess’ positions it has identified. Of that total, Europe accounts for around 3,700 jobs, of which roughly 2,000 are in Germany.
The company makes a variety of components such as piston systems, cylinders, valvetrains, and air and liquid management systems along with starters, alternators and power electronics. It currently employs 77,000 people in more than thirty countries.
“We’re currently facing a crisis, the like of which we’ve never experienced before,” stated Joerg Stratmann, management board chairman at Mahle. Stratmann also noted that the automotive market would not return to pre-crisis levels for several years.