Schaeffler announced a restructuring programme that will eliminate 3,460 jobs in Europe, with approximately 2,660 cuts in Germany, and close five production sites. The company expects to save around €300 million annually by 2030, against one-time restructuring costs of roughly €480 million.
The supplier attributed the cuts to weak demand for combustion-engine vehicles, slower-than-expected electric vehicle ramp-up, high German labour costs, and excessive management layers. Production roles account for half the job losses, while research and development represents 30 percent.
Schaeffler will close plants in Dortmund (430 employees) and Morbach (160 employees), both focused on combustion engine components. The company also shuts sites in Berlin and Schwalbach, relocating most of their approximately 385 workers to Frankfurt. A small Belgian facility in Herstal closes as well.
The German workforce reduction represents about 9 percent of the company's core workforce of 31,957 employees in that country. When including earlier restructuring programmes and 1,800 partial-retirement arrangements, the total reduction reaches roughly 18 percent.
Schaeffler plans a temporary voluntary pay cut from the board level downward to limit redundancies. Most measures take effect in 2027 and 2028.
Chief Operating Officer Jochen Schröder said the company aims to offset some reductions through growth in humanoid robotics and defence sectors, drawing on "technological expertise we have developed in our core business."