Schaeffler announces cuts of 2,800 jobs in Germany
Schweinfurt-based company plans to reduce headcount by 2,800 as part of a strategic restructuring
Job cuts will impact sites across Germany, including Schweinfurt
The global automotive and industrial supplier Schaeffler has launched a cost-cutting program that includes the elimination of 2,800 jobs in Germany.
The cuts will affect sites throughout the country, including the company's headquarters in Schweinfurt.
The company cited the challenging economic environment and the need to improve its competitiveness as reasons for the job cuts.
Schaeffler said it would work with employee representatives to implement the job cuts in a socially responsible manner.
The company has been facing headwinds in recent months due to the global economic slowdown and the ongoing chip shortage.
In August, Schaeffler announced that it would be cutting 1,000 jobs in Germany as part of a restructuring plan.
The latest job cuts bring the total number of positions eliminated in Germany to 2,800.
The company said it would be offering affected employees support, including severance packages and job placement assistance.
Schaeffler is a major employer in Schweinfurt, with around 10,000 employees at its headquarters and other sites in the city.
The job cuts are likely to have a significant impact on the local economy.
The company said it was committed to its Schweinfurt site and would continue to invest in the city.
It's currently unclear how the job cuts will affect Schaeffler's operations in other regions.
The company has manufacturing sites and employees around the world.
Schaeffler is one of the world's leading automotive and industrial suppliers.
The company has been in business for over 100 years and has a global workforce of over 83,000 employees.
Schaeffler is headquartered in Herzogenaurach, Germany.
The company's products are used in a wide range of industries, including automotive, aerospace, and industrial machinery.
Schaeffler is working to transform itself into a more sustainable and digital company.
The company is investing heavily in research and development to develop new products and technologies.
Schaeffler is committed to reducing its environmental impact and has set a goal of becoming carbon neutral by 2040.
