Schaeffler cuts 3,460 jobs, shuts five plants across Europe

Restructuring targets 2,660 German positions and R&D departments

The restructuring program will eliminate approximately 2,660 positions in Germany, representing about nine per cent of the company's core domestic workforce. When combined with downsizing initiatives approved in late 2024, the total reduction of the German workforce approaches twenty per cent.

The five facilities scheduled for closure include four sites in Germany, specifically in Dortmund, Morbach, Berlin, and Schwalbach, and one site in Belgium. Approximately half of the total job cuts will target production lines, while nearly one-third of the reductions will impact research and development departments.

Company expects €480 million in restructuring costs

CEO Klaus Rosenfeld and management expect the restructuring to incur one-time costs of roughly €480 million. The company aims to achieve annual savings of approximately €300 million by 2030 through the program.

Structural overcapacity and high energy prices drive industrial crisis

Management at Schaeffler cited structural overcapacity, sluggish electric vehicle demand, high energy prices, rigid labour regulations, and soaring wages as factors driving the current industrial crisis.

Other major European automotive suppliers, including Continental and ZF Friedrichshafen, are also executing large-scale restructuring programmes.

Union leaders and management clash over survival strategy

Union leaders have criticised the layoffs for damaging Germany’s industrial core.

Executives argue that the restructuring is necessary to avoid insolvency or hostile foreign acquisition.

Rising job cuts reflect broader European economic pressures

Companies are implementing thousands of job cuts during the current earnings season as CEOs respond to the rise of artificial intelligence and the need to reduce costs.

Bloomberg reported on 3 November 2026 that mentions of job cuts, firings, and layoffs in news reports reached their highest level in October since May.

Government actions are also contributing to the number of jobs currently in jeopardy across Europe.

Schaeffler maintains global workforce of 45,473

Schaeffler is a public manufacturing company headquartered in Herzogenaurach, Germany, that was founded in 1946 and is a subsidiary of Vitesco Technologies Group AG.

The company’s stock is traded under the symbols SHA0.F and FRA:SHA, with an initial public offering date of 9 October 2015.

The firm maintains a global workforce of 45,473, representing an increase of 2,206 yearly, 463 quarterly, and 78 monthly.

The workforce is distributed across several regions, with 7,447 employees in Western Europe, 4,216 in Eastern Europe, 2,533 in Latin America, 2,426 in Northern America, and 2,409 in Southern Asia.

The company also employs 1,061 people in Eastern Asia, 486 in South Eastern Asia, 272 in Southern Europe, 193 in Northern Europe, 80 in Sub-Saharan Africa, 45 in Western Asia, 41 in Australia and New Zealand, 5 in Central Asia, and 4 in Northern Africa.