Global workforces will fall as the next industrial revolution gets under way, the head of one of Germany’s biggest firms has warned, unless workers are retrained with new skills.

Joe Kaeser, global chief executive of the engineering giant Siemens, said up to almost a third of jobs could be lost as the transition from combustion engines to electric cars takes place over the next decade, in what will be “one of the single most important transformations of all time”.

Speaking over the weekend at the Goodwood Festival of Speed, Kaeser said it would be a key challenge for industry leaders to build the car of the future responsibly and get the transformation right, because ultimately many traditional roles will disappear in the short-term.

Global workforces will fall as the next industrial revolution gets under way, the head of one of Germany’s biggest firms has warned, unless workers are retrained with new skills.

Joe Kaeser, global chief executive of the engineering giant Siemens, said up to almost a third of jobs could be lost as the transition from combustion engines to electric cars takes place over the next decade, in what will be “one of the single most important transformations of all time”.

Speaking over the weekend at the Goodwood Festival of Speed, Kaeser said it would be a key challenge for industry leaders to build the car of the future responsibly and get the transformation right, because ultimately many traditional roles will disappear in the short-term.

Global workforces will fall as the next industrial revolution gets under way, the head of one of Germany’s biggest firms has warned, unless workers are retrained with new skills.

Joe Kaeser, global chief executive of the engineering giant Siemens, said up to almost a third of jobs could be lost as the transition from combustion engines to electric cars takes place over the next decade, in what will be “one of the single most important transformations of all time”.

Speaking over the weekend at the Goodwood Festival of Speed, Kaeser said it would be a key challenge for industry leaders to build the car of the future responsibly and get the transformation right, because ultimately many traditional roles will disappear in the short-term.