Schaeffler Cuts Thousands of Jobs: Four German Sites Under Pressure
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Schaeffler plans to close four German sites and cut thousands of jobs. Reports name Dortmund, Morbach, Berlin and Schwalbach, but leave many details about the planned job cuts unclear.
AI MODIFIEDTVS News AI, editorially supervised, presents Schaeffler Cuts Thousands of Jobs: Four German Sites Under Pressure.
TVS News AI editorial support presents Schaeffler cuts thousands of jobs: Four German sites under pressure.
3,460 jobs in Europe, including 2,660 in Germany: Schaeffler is tightening its cost-cutting course with another cost-reduction program. The company puts the planned job cuts at 3,460 positions in Europe. 2,660 jobs alone are to go in Germany. In addition, the prospective closure of five sites, four of them in Germany, is planned. For employees, this is not a single cost-cutting measure, but a multi-year organizational cut that affects production, development and other functions.
Schaeffler justifies the cuts with the automotive crisis in Europe. The executive board wants to reduce excess capacity, adjust development capacity, lower personnel costs and reduce the organization's complexity. The/platform
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