They make a living by supplying interiors to car brands. Or lived. For now, German Eissmann has filed for bankruptcy.
The aim is to reconstruct the entire company. But if it doesn't work out, 1,000 employees right now stand to lose their jobs.
This is the reality for the interior manufacturer Eissmann, who filed for bankruptcy on Tuesday last week at a local court in the German city of Tübingen.
This is written by the German media Focus .
The bankruptcy petition gives Eissmann the opportunity to knit together a rescue plan via the reconstruction of the underlying holding company, because it is definitively over.
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However, the company says 4,000 jobs in addition to the 1,000 outright layoffs are at risk as a result of the bankruptcy.
Eissmann Automotive, as the company is rightly called, is just the latest in a long line of hard-tested fates in the German car industry.
Most recently, the gearbox manufacturer ZF has announced that it needs to find several billion euros over a period of six years. It will involve thousands of redundancies. In that context, the director said that no one or nothing in the company is protected.
According to Focus, the automotive industry's crisis is rooted in the transition to electric cars. Fewer hands are simply needed in the industry when it comes to this type of car.
However, the transition is not going as quickly as many car brands had predicted. And in some areas it won't come at all, also says German Bosch.
The company estimates that it will take up to 35 years for all diesel and petrol-powered cars to be removed from the road. Conversely, several car brands are now investing heavily in the internal combustion engine. Read more about it here .
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