Schaeffler to shed approximately 4,700 jobs in Europe following merger with Vitesco
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By Bradley Osborne - 21st November 2024
Germany – Motion technology specialist Schaeffler AG of Herzogenaurach, Bavaria has announced that it will terminate approximately 4,700 jobs in Europe, following the completion of its merger with Vitesco last month.
Of the 4,700 roles marked for termination, around 2,800 are based in Germany, according to Schaeffler. The decision will involve a net loss of 3,700 jobs, as the company aims to retain about 1,000 workers by moving them to new roles. The job losses will affect ten locations in Germany and five locations elsewhere in Europe, including the closure of two locations (yet to be announced).
