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German automotive supplier Mahle seeks to cut 7,600 jobs

Kitco News

BERLIN (Reuters) - German automotive supplier Mahle said on Wednesday it was seeking to reduce its workforce by 7,600 people as it accelerates its restructuring in response to the industry slump caused by the COVID-19 pandemic.

“We’re currently facing a crisis, the like of which we’ve never experienced before,” said Joerg Stratmann, management board chairman at privately held Mahle, adding the automotive market would not return to pre-crisis levels for several years.

Management will now enter talks with labour representatives on the 7,600 “excess” positions it has identified across its worldwide operations. Of that total, Europe accounts for around 3,700 jobs, of which roughly 2,000 are in Germany.

Mahle recorded sales of 12 billion euros ($14.2 billion) last year and employs 77,000 people in more than 30 countries.

($1 = 0.8450 euros)

Reporting by Douglas Busvine; Editing by Mark Potter

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