The Voith Group is reviewing adjustments to its organizational structures and workforce as part of the company’s ongoing strategic development. The goal of these adjustments is to make the company more competitive and sustainable in the long term, to promote innovation and to take advantage of growth opportunities in a dynamic global market environment. A reduction of up to 2,500 positions is expected as part of the adjustments.
“Voith is facing major challenges on the global market, which is why we have carried out a comprehensive strategic analysis of our business. It is clear that we can only survive and grow in the long term if we can take our future into our own hands. We must have the necessary financial resources for investments and make our organisation as efficient and competitive as possible. Strengthening the organisation, accelerating innovation and taking advantage of growth opportunities – we must now tackle this together, not least in order to secure Germany as a business location,” said Dirk Hoke, CEO, Voith Group.
The goal of the structural and organizational adjustments is to simplify processes, shorten decision-making paths, strengthen market orientation and make targeted investments in future fields that will ensure long-term competitiveness. These include the profitable service and digital business, global growth regions and new technologies.
Germany plays a central role in the audits. Although the location is characterised by technological expertise and innovative strength, it also faces particular structural challenges. These include high energy and labour costs, complex regulatory requirements and an overall high level of bureaucracy.
