Explainer
How deep are Schaeffler's cuts, and where do they land?
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Schaeffler, an auto and industrial supplier based in Herzogenaurach, is closing five sites, four of them in Germany and one at Herstal in Belgium.
Herzogenaurach and Herstal
On Tuesday the company said it will cut 3460 jobs in total, most of them in Germany, and that the cuts will begin next year.
3,460
Germany takes 2660 of those posts. Schaeffler blames a weak car market, high personnel costs per head in Germany, and too many management layers.
- Total announced3460 jobs
- Germany2660 jobs
The restructuring cost is 480 million euros. Schaeffler expects savings of 300 million euros a year from 2030, and it must first agree the framework with employee representatives.
€480m
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The story
Schaeffler to cut 3,460 jobs and close five sites, 2,660 of them in GermanyRead the article
Based on reports by
- Der TagesspiegelMassive austerity measures: Auto supplier Schaeffler cuts thousands of jobs in Germany
- N-tvAuto supplier Schaeffler cuts thousands more jobs
- 7sur7Hard blow for the Liège industry: auto supplier Schaeffler closes its Herstal plant
- Berliner ZeitungAuto supplier Schaeffler: 2,660 jobs in Germany to be cut
- der StandardAuto supplier Schaeffler closes four sites in Germany
- Bloomberg BusinessSchaeffler Plans Job Cuts, Site Closures as Auto Demand Falters