Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 8. November, the German producer of automotive components, Schaeffler will be cutting 1,000 jobs in Germany until 2026 due to internal restructuring. The restructuring is part of a worldwide restructuring programme which will affect 1,300 people worldwide. It is the second major transformative restructuring since the reduction of 4,400 jobs in 2020. According to Schaeffler cuts are inevitable in order to keep up with the quick transformation towards e-mobility.
The reduction will be as socially acceptable as possible and is expected to hit Schaeffler’s plants in Herzogenaurach, Bühl and Homburg. Plant closures are not planned this time.
Currently, Schaeffler has 83,000 employees worldwide.
Eurofound (2022), Schaeffler, Internal restructuring in Germany, factsheet number 107695, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107695.