Schaeffler strokes another 1300 jobs
The supplier Schaeffler wants to reduce about 1300 jobs in Germany. For the first time, the industry sector, which is regarded as stable, is also affected.
The automotive and industrial supplier Schaeffler is to be mined up to 1300 additional jobs in Germany. A spokesman for the company from Franconian Herzogenaurach confirmed the plans.
For the first time, the mining plans also affect the industrial division of the rolling bearing specialist, which is considered to be more stable. In March, Schaeffler announced that it had reduced 900 jobs in Europe in the auto supply division, 700 of them in Germany. The package includes short-time working in individual plants and individual closing days.
Principle of double voluntariness
The group suffers from the downturn in the automotive industry and the trend towards electric mobility. In principle, there is confidence in Herzogenaurach that the problem phase will be overcome, for example by shifts to less affected parts of the company.
The now decided dismantling is based on the principle of double voluntariness, said the spokesman. The employee must be in agreement with this as well as the company. Depending on the age, severance payments, early retirement or partial retirement could be considered. Schaeffler initially left open the financial consequences of the recent downsizing.
At the end of June, Schaeffler employed 90,500 people worldwide, around 2,000 fewer than at the end of 2018. Last year, the Group had more than 14 billion euros in sales.