A major German automotive supplier has revised its workforce plans amid declining electric vehicle demand and a slowdown in overall car production, slashing over 6,500 positions in the first half of the year. Despite the cuts, the company has kept its financial outlook for 2026 unchanged, signaling confidence in long-term recovery. Industry analysts suggest the move reflects broader challenges in the EV market, where shifting consumer priorities and supply chain disruptions continue to weigh on manufacturers. The decision underscores the volatile nature of the automotive sector as companies navigate the transition to electrification.
The German supplier cited weak EV demand and slowing automotive production as pressure points. It maintained its 2026 outlook while cutting more than 6,500 jobs in the first half.
