Schaeffler to cut thousands of jobs, close four German plants amid auto crisis

Schaeffler, a major German automotive supplier, has confirmed plans to close four plants in Germany and implement significant job cuts due to structural weaknesses in the automotive sector. Unconfirmed reports indicate a broader restructuring across the European auto supply chain, with another major German supplier planning five European plant closures and thousands of job losses, driven by weak combustion-engine demand and slower EV growth. The precise scale of job losses and the full list of affected companies beyond Schaeffler remain unclear.

Schaeffler has confirmed plans to cut 3,460 jobs and close five European sites (four in Germany, one in Belgium) due to the automotive industry crisis and restructuring efforts. The specific timeline for closures and exact sites remain unspecified, indicating ongoing internal planning.