Supplier Mahle sees no return to pre-crisis levels "for several years" and said had "excess global capacities of 7,600 jobs".
It is consequently accelerating group restructuring on top of cost-saving programmes begun last year "against the background of technological change in the automotive industry and a challenging market environment".
Go deeper with GlobalData
"The major slowdown in the international markets and persistently low customer demand because of the coronavirus pandemic have yet again significantly increased the urgency to take action," it said in a statement.
It had evaluated business units, regions, and locations and identified global excess capacities of 7,600 jobs and now will be "discussing with the relevant employee representatives which adjustment measures can be implemented".
"We're currently facing a crisis, the like of which we've never experienced before," said chairman Joerg Stratmann. "So it's now particularly important that we maintain our efforts to reduce costs consistently and focus even further on our strategic goals. The capacity adjustments already implemented are not sufficient."
Europe accounts for around 3,700 jobs, of which roughly 2,000 are in Germany.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
