German automotive supplier Webasto is planning massive job cuts, with chief executive Holger Engelmann saying on Thursday that the company’s 2023 annual result was “disappointing and is forcing us to act.” Although turnover rose slightly last year to €4.6 billion ($5.03 billion), operating profit before interest and taxes (EBIT) was only just in positive territory at €20 million. “We have therefore launched a broad-based programme to sustainably improve our company’s results and secure Webasto’s future,” Engelmann said from the company’s headquarters in Stockdorf near Munich. “Job cuts in the …