Hyperdrive
Carmakers Shed 80,000 Jobs as Electric Shift Upends Industry
- Most job losses are concentrated in Germany, U.K. and U.S.
- China and India also seeing cuts after rapid sales growth
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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 AG and Audi announcing almost 20,000 job cuts in just the past 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.