Schaeffler plans to cut 1300 more jobs

Schaeffler plans to cut 1300 more jobs

Automotive and industrial supplier schaeffler plans to cut a further 1300 jobs in germany.

A company spokeswoman confirmed information from "wirtschaftswoche" in response to a dpa inquiry. The cutbacks are part of a package of measures agreed in march to respond to the transformation process in the automotive industry and to trade problems with china and the USA.

For the 1,300 jobs, the principle of double voluntariness should apply, the spokeswoman stressed. This means that employees and the company must agree with the departure of the company and the conditions.

Schaeffler suffers considerably from the economic problems of the automotive and its supplier industry. In principle, however, there is confidence in herzogenaurach that the problem phase will be overcome, for example through reallocations to less affected parts of the company. In march, the company had already announced a package of measures including short-time work at individual plants and individual vacation days.

The schaeffler group employs more than 90 people worldwide.000 people. In 2018 the group turned over more than 14 billion euro.