Global automakers cut 80,000 jobs In the automotive industry as technology structure shifts

This could be one of the worst years on the part of auto workers around the world, thanks to shrinking demand and structural shifts in autotechnology. In the past week alone, Daimler and Audi have announced job cuts totalling nearly 20,000. The data showed carmakers would cut more than 80,000 jobs over the next few years.

Although the job cuts are concentrated in Germany, the US and the UK, faster-growing economies are not immune and carmakers are scaling back their local operations.

Global automakers cut 80,000 jobs In the automotive industry as technology structure shifts

IHS Markit, a research firm, says the global auto industry will produce 88.8m cars and light trucks this year, down nearly 6 per cent from a year earlier. VDA, the German auto industry lobby group, forecast on Wednesday that the decline would continue into next year, with global car deliveries at 78.9 m, the lowest level since 2015.

VDA President Bernhard Mattes told a news conference in Berlin that carmakers are expected to cut jobs in Germany “in 2020.” He added that a technological shift alone could lead to the loss of 70,000 jobs over the next decade.

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