ZF to cut 7,600 jobs in powertrain revamp by 2030

ZF Friedrichshafen will cut 7,600 jobs in its Electrified Powertrain Technology division by 2030 under a new restructuring deal with employee representatives. The supplier said the plan, reached with the general works council and labour union IG Metall, is aimed at saving more than €500m (US$586.8m) by 2027 through workforce reductions, shorter working hours and a postponed wage increase, while avoiding forced redundancies.