Schaeffler plans to cut a further 3,460 jobs in Europe, including around 2,660 in Germany, and close four sites there. WELT reported this on November 3. The company’s new plans show just how much pressure the European automotive supply industry continues to face.
In an accompanying statement, Schaeffler attributed the restructuring to a prolonged downturn in the automotive market, intensifying competition, falling demand for vehicles with internal combustion engines, and a slower-than-expected shift to electric vehicles. The company aims to reduce excess capacity, personnel costs and the complexity of its organizational structure.
The measures will affect 16 sites in Europe. In Germany, the company plans to close its facilities in Dortmund, Morbach, Berlin and Schwalbach. A significant number of employees from Schwalbach are expected to be transferred to Frankfurt. The company also plans to close a small production facility in Herstal, Belgium, and adjust capacity at sites in France and Slovakia.
Around half of the positions to be cut are in production, with the rest in research and development and other divisions. Schaeffler estimates that the program will generate around €300 million in additional annual profit from 2030. One-off costs will amount to approximately €480 million. The implementation plan will be discussed with employee representatives.
For Europe’s steel distribution and processing sector, the announcement illustrates the difficult situation facing automotive industry customers and highlights why it is important to monitor changes in production capacity and demand for materials.
