Schaeffler to cut 3460 jobs and close five European plants
German auto supplier Schaeffler plans to eliminate 3460 jobs and shut five European sites to offset weaker demand. The restructuring aims to deliver annual savings of 300 million euros by 2030.
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SCHAEFFLER AG will cut 3,460 jobs and close five European sites by 2028, responding to weaker combustion-engine demand and slower EV adoption. The cuts will affect 16 sites in total, including four plants in Germany and one in Belgium . The reduction equates to roughly 9% of the company's core workforce in its home market.
