Schaeffler is closing four factories in Germany. The well-known manufacturer of bearings, industrial equipment and auto parts will lay off 3,500 employees worldwide - the factories in Dortmund, Morbach, Schwabach and Hochstadt will be the first to close, as will the branch in Berlin.

Schaeffler is closing four factories in Germany. The well-known manufacturer of bearings, industrial equipment and auto parts will lay off 3,500 employees worldwide - the factories in Dortmund, Morbach, Schwabach and Hochstadt will be the first to close, as will the branch in Berlin.