Automotive parts manufacturer Schaeffler to cut 3,460 jobs in Europe
German automotive supplier Schaeffler has announced the loss of 3,460 jobs across Europe, primarily in Germany, along with the closure of five facilities. The company, which employs 110,000 people globally, attributes the cuts to the automotive sector crisis, rising competition, and the slow transition to electric mobility. No specific impact on their Portugal plant was mentioned. The restructuring plan aims for annual savings of approximately 300 million euros by 2030, with a temporary 'solidarity contribution' involving voluntary salary reductions across all management levels to mitigate further job losses.
dn.pt
