ZF Friedrichshafen is planning to extend short-time work.
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At its main site in Friedrichshafen commercial vehicle gearbox output will be cut by 52% year-on-year, group executive Rolf Lutz has said.
ZF would scale back its global gearbox production by 31%.
To offset flagging demand, the company would significantly extend short-time work in Friedrichshafen, let 540 fixed-term contracts expire, and cut jobs outside Germany he said.
Lutz stressed he could not forecast when demand would pick up again, adding that order intake projections for the second half of the year were difficult to make.
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