Schaeffler announces cutting of 1,300 positions worldwide, including around 300 at locations outside Germany
The Board of Managing Directors of Schaeffler AG has decided on additional restructuring measures aimed primarily at further boosting competitiveness in the Automotive Technologies division as well as reducing fixed costs and overcapacity. These measures are to be largely implemented by the end of 2026. Matthias Zink, CEO Automotive Technologies, commented as follows: “We are moving into an environment where being the technology leader is no longer enough. The critical factor now is to have in place the competitive cost structures needed to further accelerate the transformation process and ensure that Schaeffler is fully geared for powertrain electrification. And that in turn requires us to reduce our cost base and cut overcapacity.”
Accordingly, the planned structural changes involve the cutting of a total of 1,300 positions, mainly in the Engine & Transmission Systems and Bearings business divisions within Automotive Technologies, and in the company’s central functions.
Approximately three quarters of the capacity reduction will affect positions in administration and in central functions in the area of R&D for internal combustion engines, with the other one quarter in production. Positions will be cut both in Germany and abroad. Within Germany, the locations affected are mainly Herzogenaurach, Bühl, and Homburg. One in four of the positions lost will be at locations outside Germany.