Curated News
By: NewsRamp Editorial Staff
November 03, 2026
Schaeffler Axes 3,460 Jobs in Europe, Closes Four German Sites
TLDR
- Schaeffler targets 300 million euros in annual savings by 2030, cutting 3,460 European jobs to boost competitiveness.
- Schaeffler will cut 3,460 European positions, close four German sites, and apply a solidarity contribution across all levels.
- Schaeffler plans socially responsible job cuts, consulting employee representatives to support workers through the transition.
- Schaeffler's restructuring includes a solidarity contribution from the board down, showing shared sacrifice across all levels.
Impact - Why it Matters
This news matters because it underscores the deep structural crisis facing the European automotive industry, particularly in Germany, where high costs and weak demand are forcing major suppliers to make painful cuts. Schaeffler's decision to eliminate thousands of jobs and close plants will have significant repercussions for local communities and the broader economy. The solidarity contribution across all levels, including the board, sets a precedent for shared sacrifice in corporate restructuring. Moreover, the company's simultaneous investment in future technologies like humanoid robotics signals a strategic pivot that could reshape the region's industrial landscape and competitiveness in the global market.
Summary
Schaeffler AG, the German motion technology company, has announced a new performance improvement program aimed at addressing the persistent challenges in the European automotive industry. The program, decided by the Board of Managing Directors, focuses on reducing overcapacity, adjusting development capacity, lowering personnel costs, and reducing organizational complexity. As part of the initiative, Schaeffler plans to cut a net total of 3,460 positions in Europe, with approximately 2,660 in Germany, representing about eight percent of the core workforce by 2028. The cuts will affect 16 locations in Europe, including the closure of five sites, four of them in Germany: Dortmund, Morbach, Berlin, and Schwalbach. The company also plans to discontinue toolmaking at Höchstadt and adjust special machinery manufacturing at Erlangen and Schweinfurt. Outside Germany, adjustments are planned in France, Slovakia, and the closure of the Herstal site in Belgium.
CEO Klaus Rosenfeld emphasized the company's commitment to Germany as a business location, stating that the program aims to demonstrate that competitive and cost-efficient development and manufacturing in Germany and Europe are still possible. A key element is a solidarity contribution across all hierarchical levels, including a temporary voluntary compensation reduction, starting with the Board of Managing Directors. This is intended to lower costs per employee and reduce the necessary job cuts. The program is expected to generate annual earnings improvements of approximately 300 million euros starting in 2030, with one-time expenses of around 480 million euros. Implementation will be socially responsible, in close dialogue with employee representatives, building on the Future Accord concluded in 2018.
The performance improvement program aligns with Schaeffler's strategy to become the leading Motion Technology Company, leveraging cross-sector diversification and new growth areas such as humanoid robotics and defense. Dr. Jochen Schröder, COO, highlighted the company's technological expertise in core business as a foundation for these growth opportunities. The company remains committed to its strategic direction and views the restructuring as a way to replace declining activities with new business. The original release can be viewed on www.newmediawire.com.
Source Statement
This curated news summary relied on content distributed by NewMediaWire. Read the original source here, Schaeffler Axes 3,460 Jobs in Europe, Closes Four German Sites
