News Summary

• ZF Friedrichshafen will cut around a quarter of its workforce in its electrified powertrain technology unit by 2030.
• The move is part of a broader plan announced by ZF Group last year to eliminate up to 14,000 positions in Germany.
• ZF said the 7,600 job cuts would be accompanied by shorter working hours and a postponed wage increase to help lower costs by more than 500 million euros by 2027.
• The agreement includes early retirement options and severance packages, with a commitment to avoid forced redundancies.