The reduction will see 5,000 positions eliminated by 2030, with an additional 6,000 impacted by outsourcing or divestments
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The company plans to halt production at one of its two Thai plants, consolidating operations into the second facility by September 2025
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The affected workers, primarily white-collar staff, received notification of the decision early Friday morning
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This reduction represents over 12% of the company’s current workforce of around 4,000
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The decision follows dwindling demand for EVs and intensifying competition from Chinese manufacturers
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This is part of a larger plan to downsize its workforce as the company grapples with financial difficulties, regulatory setbacks and an eight-week machinists’ union strike
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Impacted employees will remain on the company's payroll until January, in compliance with federal regulations requiring a 60-day notice
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The announcement follows a significant 46% decline in profit within Siemens' core digital industries business
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As per reports, Audi aims to reduce its workforce by around 6,500 positions, with 2,000 roles affected in development alone
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The solar inverter manufacturer is implementing these cuts to streamline operations amid declining residential solar demand, particularly in Europe
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