German automotive supplier Schaeffler has announced plans to reduce its European workforce by 4,700 jobs, with 2,800 positions impacted in Germany alone. The restructuring, prompted by challenges in the automotive and industrial sectors and the integration of newly acquired Vitesco, will see relocations minimize net reductions to 3,700 positions. The majority of the measures will be rolled out between 2025 and 2027.
Schaefflerâs restructuring plan affects ten German sites and five additional locations across Europe, with two of these expected to close. Details on specific locations will be provided by the company before year-end. At Vitesco, redundancies will focus on administrative roles, with around 300 positions each impacted at Regensburg and Herzogenauchrach.
Klaus Rosenfeld, CEO of Schaeffler, cited three main drivers for the job cuts: âFirstly, we will get our bearings and industrial business back on track. Secondly, we will realize cost synergies from the merger with Vitesco Technologies. And thirdly, we will continue the transformation of our Powertrain & Chassis and E-Mobility divisions.â
With Schaefflerâs E-Mobility division headquartered in Herzogenaurach and Powertrain Solutions centered in Regensburg, the company aims to achieve annual synergies of 600 million euros by 2029. These savings will largely stem from economies of scale, with minimal reliance on workforce reduction.
In a similar move, auto parts maker ZF Friedrichshafen announced up to 14,000 job cuts in July, attributing the decision to shifts in mobility, particularly towards electromobility, and pressures to enhance competitiveness.
