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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.15 - Manufacture of bearings, gears, gearing and driving elements
500 jobs Number of planned job losses
Announcement Date
21 August 2015
Employment effect (start)
21 August 2015
Foreseen end date
31 December 2017
Description
Schaeffler, a German automotive supplier and bearing producer, will cut 500 out of 2,800 jobs of its sales and administration department in Herzogenaurach and Schweinfurt. The job reduction will equally concern other European countries; on average sixth job at this department will be affected.
In the future the company wants to focus more strongly on its automotive business and is beginning to reduce the size of its industrial division. However, the company is not planning to implement compulsory redundancies. It aims to integrate as many staff as possible into its automotive division.
Schaeffler has previously announced to cut 900 jobs in Germany at the end of 2016 (see 2013).
Sources
21 August 2015: Junge welt Online
21 August 2015: Die Welt Kompakt
20 August 2015: FAZ
Citation
Eurofound (2015), Schaeffler, Internal restructuring in Germany, factsheet number 84588, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84588.
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