VW Plant Closures Forces Supplier To Cut German 4,700 Jobs

German automotive supplier Schaeffler has announced plans to cut 4,700 jobs across its European operations, with Germany bearing the brunt of the reductions, as the automotive industry's slowdown continues to impact supply chain companies. The decision reflects growing pressures in the German automotive sector, particularly affected by Volkswagen's recent challenges.

 

The restructuring will primarily impact German operations, with approximately 2,800 positions to be eliminated across ten sites in the country. The remaining job cuts will be distributed throughout Europe, including two facility closures, though specific locations remain undisclosed. The company notes that about 1,000 positions will be reduced through redeployments, resulting in a net reduction of 3,700 jobs, representing 3.1 percent of Schaeffler's 120,000-strong workforce.