Event
Schaeffler announces 3,460 job cuts in Europe and plant closures
2 reports · 1 sources
After completing the restructuring measures announced in November 2024 and reaching 1,800 early retirement agreements in early October, the board of directors decided to launch a new performance improvement program: a net reduction of 3,460 positions in Europe, of which about 2,660 are in Germany, accounting for approximately 9% of its 31,957 core employees as of September 30, 2026; it also plans to close five sites, four of which are in Germany. Schaeffler said the program can save approximately €300 million per year by 2030, with the structural measures implemented mainly in 2027 and 2028. Regarding the number of plant closures, the two reports differ: one says five sites will be closed, including Dortmund, Morbach, Berlin and Schwabach (four in Germany), while the other says four German factories are planned for closure.
Report timeline
- Schaeffler announces new performance improvement program: 3,460 job cuts in Europe, closure of four German plants
Schaeffler announced a new performance improvement program that will cut a net 3,460 positions in Europe, including about 2,660 in Germany, and close five sites including Dortmund, Morbach, Berlin and Schwalbach (four in Germany).
Schaeffler ·
- Schaeffler announces new performance improvement program: 3,460 job cuts in Europe, closure of four German plants
Schaeffler announced a new performance improvement program that will cut a net 3,460 positions in Europe, including about 2,660 in Germany, and plans to close four German plants. About 50% of the job cuts involve production, 30% research and development, and 20% other functions, spanning 16 sites in Europe.
Schaeffler ·
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