Crisis in the automotive industry: Schaeffler cuts thousands of jobs and closes factories
Dortmund, Morbach, Berlin, Schwalbach: Schaeffler wants to close four German locations and cut thousands of jobs. Which plants and areas will the austerity measures affect?
Schaeffler is implementing a new cost-cutting program, which includes cutting 3,460 jobs in Europe, 2,660 of them in Germany. The company plans to close four German sites: Dortmund, Morbach, Berlin, and Schwalbach, with some employees set to move to the Frankfurt site. The measures, aimed at addressing the European automotive crisis, are expected to improve Schaeffler's annual results by €300 million from 2030, at a one-time cost of around €480 million.
The job cuts affect 16 sites in Europe, with 50% of the reductions in production, 30% in research and development, and 20% in other areas.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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