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Webasto must cut jobs significantly - but sees itself well positioned in e-mobility

(dpa) The automotive supplier announces job cuts after the charging solutions business had already been sold in January. However, they consider themselves well-positioned in the field of e-mobility.

Core business components, also for electric cars: With higher heat demand for passenger compartments in electric buses or for cargo spaces, multiple high-voltage heaters from Webasto can be combined. | Photo: Webasto
Core business components, also for electric cars: With higher heat demand for passenger compartments in electric buses or for cargo spaces, multiple high-voltage heaters from Webasto can be combined. | Photo: Webasto
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Johannes Reichel

The automotive supplier Webasto plans a massive reduction in jobs. CEO Holger Engelmann said on Thursday in Stockdorf near Munich: "The annual result for 2023 is disappointing and forces us to take action." While revenue last year slightly increased to 4.6 billion euros, operating profit before interest and taxes (Ebit) stood at just 20 million euros, barely in the positive range. "We have therefore launched a comprehensive program to sustainably improve our company's results and secure the future of Webasto," Engelmann said. "A double-digit percentage reduction in jobs is likely unavoidable." Currently, Webasto employs 16,600 people worldwide.

The board will inform employees about goals and decisions in a few weeks. The family-owned company had already adjusted capacities, decided on a global hiring freeze in the fall, and at the beginning of this year, predominantly divested its charging solutions business.

Webasto is well-positioned with its core business of panorama and sunroofs in the field of electromobility, emphasized the CEO. However, the conditions for automotive suppliers have further deteriorated: "Significant demand fluctuations, increased cost pressure, inflationary effects, supply chain disruptions, and weak development in many markets are reflected in our figures," said Engelmann. The company is preparing for many external factors to continue hindering its business development.

Translated automatically from German.
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