“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)