World's Second-Largest Car Supplier ZF Could Lay Off 9,000

ZF, based in Friedrichshafen on Lake Constance in Germany, has suffered heavy losses in its ambitious program to produce components for e-trucks. In the hope of winning orders for electric power steering systems for trucks, the company accepted losses in the millions. However, the hoped-for orders apparently did not materialize. The highly-deficient production site in Gelsenkirchen, where these steering systems were to be produced, will be closed along with other departments as well. There is talk of 9,000 layoffs.