The company's financial struggles include approximately 11 billion euros in debt, largely due to past acquisitions, which result in nearly half a billion euros in annual interest payments.

He further noted that the company's issues are rooted in repeated crises, including COVID-19, supply chain difficulties, and rising energy costs, rather than personnel problems.

In 2023, ZF reported revenues of 46.6 billion euros but has since revised its forecast for 2024 down to between 40 and 42 billion euros due to disappointing business performance.

As part of its restructuring efforts, ZF plans to potentially close one-third of its 35 domestic plants, with a list of sites already identified for closure.

The company intends to eliminate 1,800 jobs at its Saarbrücken facility and anticipates thousands more cuts across Germany due to these challenges.

Dietrich argues that cutting jobs is misguided, as personnel costs account for only 15% of production costs, and even lower in less labor-intensive sectors like electromobility.

Globally, ZF Friedrichshafen employs approximately 168,700 people across 162 production sites in 31 countries, with around 10,000 workers at the Saarbrücken facility.

ZF Friedrichshafen, a major global auto supplier, is currently grappling with a severe crisis marked by billions in debt and plans for significant job cuts.

Former Vice Chancellor Sigmar Gabriel has criticized the German government's handling of the automotive crisis, warning that suppliers are facing a 'quiet death' without adequate support.

Gabriel expressed concern for suppliers, who he believes are suffering in silence compared to the more stable positions of large automakers like Volkswagen.

Dietrich has called for negotiations with management to clarify the number of affected employees and discuss potential short-time work measures.

Achim Dietrich, the works council chairman, described the situation as 'very, very serious' and criticized the planned layoffs, emphasizing the need for a more thoughtful approach.