Carmakers will shed 80,000 jobs as technology and falling demand upend the industry
It’s turning out to be one of the worst years ever for auto workers across the globe amid shrinking demand and a tectonic shift in vehicle technology, with Daimler and Audi announcing almost 20,000 job cuts in just the last week.
All told, carmakers are eliminating more than 80,000 jobs during the coming years, according to data compiled by Bloomberg News. Although the cuts are concentrated in Germany, the U.S. and the U.K., faster-growing economies haven’t been immune and are seeing automakers scale back operations there.
The German companies joined General Motors Co., Ford Motor Co. and Nissan Motor Co. in massive retrenchments put in motion over the last year. The industry is sputtering as trade tensions and tariffs raise costs and stifle investment, and as manufacturers reassess their workforce in an era of electrification, autonomous driving and ride-on-demand services.
The global auto industry will produce 88.8 million cars and light trucks this year, an almost 6% drop from a year ago, according to researcher IHS Markit. German auto industry lobby VDA on Wednesday predicted that the decline will continue next year, forecasting global deliveries of 78.9 million vehicles, the lowest level since 2015.
https://www.latimes.com/business/story/2020-02-29/automaker-job-cuts
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