Car-parts group eyes cost cuts equivalent to 4,500 jobs Schaeffler warns slump could continue until 2013 IG Metall - no state aid for debt-laden group if layoffs (Adds background, detail ...

Schaeffler AG will cut about 4,700 jobs in Europe and close two sites as a deepening slump at Volkswagen AG and other German carmakers ripples through their supply chains.

(RTTNews) - Schaeffler AG (SCFLF.OB), a German manufacturer of rolling element bearings, reported Wednesday a net loss in fiscal 2024, compared to prior year's profit, despite increased revenues.

French tyre company Michelin said Tuesday it would close two French plants by early 2026 and German parts maker Schaeffler announced 4,700 job cuts, the ...

Earlier this week, European car-parts suppliers Michelin and Schaeffler announced jobs cuts, which together equaled nearly 6,000 positions.

Schaeffler AG will cut 4,400 jobs and close or sell several German plants as the automotive supplier joins peers in reeling from the coronavirus pandemic.

Layoffs announced by U.S.-employers jumped to levels not seen since the last two recessions amid mass federal government job cuts, canceled contracts and fears of trade wars, offering the clearest ...

For months, not a week has gone by without the automotive supply industry announcing hundreds of redundancies and the closure of entire plants.

The company said it would cut thousands of jobs across Europe as part of a restructuring program aimed at boosting its competitiveness in a challenging market.

Schaeffler will cut 4,400 jobs and close or sell several German plants as the automotive supplier joins peers in reeling from the coronavirus pandemic. Most of the reductions will take place at a ...

Schaeffler AG will cut about 4,700 jobs in Europe and close two sites as a deepening slump at Volkswagen AG and other German carmakers ripples through their supply chains.

French tyre company Michelin said Tuesday it would close two French plants by early 2026 and German parts maker Schaeffler announced 4,700 job cuts, the latest signs of struggles in the European ...