Schaeffler plans to cut a further 3,460 jobs across Europe, including approximately 2,660 in Germany, and close four German sites, according to WELT’s report published on 3 November. The announcement highlights the continuing pressure on Europe’s automotive supply industry.
In its accompanying announcement, Schaeffler attributes the restructuring to persistent automotive market weakness, stronger competition, declining demand for internal combustion engine vehicles and a slower-than-expected transition to electric mobility. The programme aims to reduce excess capacity, personnel costs and organisational complexity.
The measures affect 16 European locations. Planned German closures include Dortmund, Morbach, Berlin and Schwalbach, although a substantial share of Schwalbach employees is expected to transfer to Frankfurt. The company also plans to close its small Herstal production site in Belgium and adjust capacity at locations in France and Slovakia.
Approximately half of the positions affected are in production, with the remainder in research and development and other functions. Schaeffler expects annual earnings improvements of around €300 million from 2030, against one-off expenses of approximately €480 million. Implementation will be discussed with employee representatives.
For the European steel distribution and processing sector, the announcement illustrates the challenging conditions facing automotive customers and the importance of monitoring changes in downstream production capacity and material demand.
