Up To 4,500 Jobs Threatened At Schaeffler

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

At the auto supplier Schaeffler, up to 4,500 employees have to fear for their jobs. The company wants to avoid layoffs as much as possible.

The ailing auto supplier Schaeffler wants to save around 250 million euros in personnel costs in Germany. This corresponds to a reduction of 4500 jobs nationwide, the company announced on Wednesday in Herzogenaurach. However, the company wants to try other measures to reduce personnel costs in Germany, according to a company release.

Low sales expectations

Plans include partial retirement, voluntary termination agreements, the continued use of short-time work and a reduction in working hours. In the case of "cost adjustments", redundancies should be avoided.

The company reacted to the decline in sales as a result of the economic crisis since late autumn of last year and to the lower sales expectations for the coming years. In the first quarter of 2009, the automotive division recorded a decline in business of 33 percent compared to the previous year; this has now stabilized at a 25 percent lower level. (dpa)