Auto supplier Schaeffler wants to cut thousands of jobs

The automotive and industrial supplier Schaeffler plans to cut 4,400 more jobs by the end of 2022 due to the crisis in the automotive industry. Twelve locations in Germany are essentially affected – including the headquarters in Herzogenaurach, Franconia – and two more in other European countries, Schaeffler announced on Wednesday in Herzogenaurach. For the plant in Luckenwalde, a sale could also come into consideration, said CEO Klaus Rosenfeld of the dpa. According to information from Schaeffler from 2019, the plant in Brandenburg has around 400 employees. They manufacture components for engines.

Schaeffler hopes that the package of measures will generate savings potential of 250 to 300 million euros annually, 90 percent of which should be realized in 2023. This is offset by transformation costs of 700 million euros. “We are undergoing a structural change that we have to tackle actively,” said Rosenfeld. Schaeffler intends to reinvest the money saved in Germany in “future businesses and technologies”, it says in a message from the company.

The job cuts should be implemented as socially acceptable as possible. Talks are ongoing with IG Metall on the basis of the future agreement concluded in 2018. Schaeffler wants to use different instruments. However, the company did not provide precise information about what these are.

Schaeffler, one of the largest German suppliers, especially for the ailing automotive industry, had already reduced its capacities in recent years. A year ago, the company launched a volunteer program that is currently being implemented and which should cut almost 2,000 jobs. Since the end of 2018, the number of employees in the Schaeffler Group has decreased by around 8,250 to 84,223. (with material from the dpa) /


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