EMCC European Monitoring Centre on Change

ZF Friedrichshafen

Company/Organisation:
ZF Friedrichshafen

Geographic Location

Country: Germany

Company

Sector: Manufacturing
Manufacture of transport equipment
29.3 - Manufacture of parts and accessories for motor vehicles

Employment Effects

Announcement Date: 10-03-2010
Planned Job Reductions min: 550
Planned Job Reductions max: 550
Type of Restructuring: Internal restructuring
Employment Effect Start: 10-03-2010
Foreseen End Date: 31-12-2010
Other Job Reduction Measures: 550

Additional Information

On 10 March 2010, the automobile supplier ZF Friedrichshafen announced the cut of 550 jobs by the end of 2010. The job cuts affect the company's temporary agency workers. The reduction in staff is part of a cost cutting plan that was negotiated between management and works council.

ZF seeks to reduce its costs by €600 million until 2012 (€200 million in personnel costs). Part of the package is also a reduction in working time and the cutting of extra-pays that are above the general pay scale for a limited time. In return, ZF's core staff was guaranteed their jobs until 2013. ZF currently employs around 8,000 staff in Germany.