Gerhardi Kunststofftechnik GmbH, a major player in the German automotive industry, has filed for bankruptcy, highlighting the ongoing crisis in the sector.
Founded in 1796 and based in Lüdenscheid, North Rhine-Westphalia, the company produces plastic components for vehicle interiors and exteriors. With operations in Lüdenscheid, Ibbenbüren, Altena-Rosmart, and a facility in Montgomery, USA, Gerhardi employs approximately 1,500 workers.
The bankruptcy decision raises significant uncertainty for these employees. Jan-Philipp Hoos has been appointed as the temporary bankruptcy administrator by the court.
This development is part of a broader employment crisis in the German automotive sector, which is facing a substantial downturn affecting suppliers, manufacturers, tire companies, and engineering firms. Recently, Bosch announced it would lay off 3,000 employees from its operations in Germany.
As the automotive industry, seen as the backbone of the German economy, experiences a rapid decline in job demand, a recent analysis indicates that job postings in the sector fell by 53% in October compared to August, underscoring the depth of the crisis.