Doubt -. Volkswagen -. Schaeffler will cut 3,460 jobs in Europe and close 5 plants, 4 of them in Germany. Bloomberg By 2028, the company will cut about 9% of its 31,957 workforce in Germany. Considering the 2024 plan, the reduction will reach about 18%. The fifth factory will be closed in Belgium. Schaffler attributes the decision to weak demand for cars with internal combustion engines and a delay in the development of electric mobility. Costs per employee in Germany are approximately 2.5 times higher than in other European countries. The measures will provide savings of around 300 million euros a year from 2030, and senior managers will give up 10% of their base salary. The stock is down 4.5%, down nearly 30% year to date. Adjusted profit before interest and taxes in the third quarter was 245 million euros compared to 264 million a year earlier. The IG Metall union criticized the plan: "This is not a strategy for the future of Germany as an industrial center." Telegram | maximum | strain | .

Doubt -. Volkswagen -. Schaeffler will cut 3,460 jobs in Europe and close 5 plants, 4 of them in Germany. Bloomberg By 2028, the company will cut about 9% of its 31,957 workforce in Germany. Considering the 2024 plan, the reduction will reach about 18%. The fifth factory will be closed in Belgium. Schaffler attributes the decision to weak demand for cars with internal combustion engines and a delay in the development of electric mobility. Costs per employee in Germany are approximately 2.5 times higher than in other European countries. The measures will provide savings of around 300 million euros a year from 2030, and senior managers will give up 10% of their base salary. The stock is down 4.5%, down nearly 30% year to date. Adjusted profit before interest and taxes in the third quarter was 245 million euros compared to 264 million a year earlier. The IG Metall union criticized the plan: "This is not a strategy for the future of Germany as an industrial center." Telegram | maximum | strain | .