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Schaeffler plans to cut 3,460 jobs in Europe amid auto industry downturn

By Public Technologies
  • Schaeffler plans to cut 3,460 jobs across Europe, including about 2,660 in Germany, amid weak automotive demand.
  • Five sites will close, including four in Germany; restructuring measures are scheduled mainly for 2027 and 2028.
  • The program targets annual savings of about EUR 300 million from 2030, with one-time costs of around EUR 480 million.
  • Proposed temporary voluntary salary cuts across all management levels, including the executive board, would reduce personnel costs in 2027 and 2028.
  • Implementation will involve employee representatives and works councils, with salary concessions intended to limit job losses.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Schaeffler AG published the original content used to generate this news brief on November 03, 2026, and is solely responsible for the information contained therein.

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