Autozulieferer: Schaeffler schließt Abbauprogramm früher ab als geplant
Vor zwei Jahren hatte der Automobilzulieferer Schaeffler den Abbau von 4700 Stellen angekündigt. Nun spart das Unternehmen dadurch deutlich mehr als zunächst angekündigt.
Düsseldorf - Auto supplier Schaeffler is advancing its cost-cutting plans faster than initially scheduled, bringing its layoffs program to completion ahead of the planned deadline. By September 30th, the company had already slashed 3,715 positions, surpassing the original target of 3,700 by an entire year. This acceleration means Schaeffler will achieve its projected goal of reaching this target by the end of 2029, one year earlier than anticipated.
The company's annual savings have increased to approximately €350 million, up from the previously estimated €290 million. Two years ago, Schaeffler launched a major restructuring program aimed at countering growing weakness in the European market. Over 2,800 jobs were slated for elimination, primarily at European locations, with 2,800 German jobs identified as the target. The company had just completed the acquisition of former Continental subsidiary Vitesco at the time the restructuring was announced.
Schaeffler did not incur as much expense from the restructuring as initially forecast by its leadership, including CEO Klaus Rosenfeld. The company had previously had to record provisions of around €580 million for the eliminated positions, with €84 million of these provisions canceled by the end of the previous month.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
