The major automotive suppliers are battling two crises at the same time: Their industry is undergoing a complicated change, and the corona pandemic is affecting them. The big German companies want to cut staff – and possibly close entire locations.
The automotive and industrial supplier Schaeffler plans to cut 4,400 more jobs in Germany and Europe by the end of 2022 due to the crisis in the automotive industry. Twelve locations in Germany are essentially affected – including the headquarters in Herzogenaurach in Franconia – and two more in other European countries, Schaeffler announced in Herzogenaurach. A complete closure is no longer ruled out for the Wuppertal location. Schaeffler hopes that the package of measures will generate savings of 250 to 300 million euros annually, 90 percent of which should be achieved in 2023. This is offset by transformation costs of 700 million euros.
Schaeffler, one of the largest German suppliers, especially for the ailing automotive industry, had already reduced its capacities in recent years. A year ago, the company launched a volunteer program that is currently being implemented and which should cut almost 2,000 jobs.
Since the end of 2018, the number of employees in the Schaeffler Group has decreased by a total of around 8,250 to 84,223. "Despite an upturn in demand in all three divisions and four regions in recent months, the uncertainty about the further course of the pandemic and the resulting deterioration in the economic situation remains high," the statement said. CEO Klaus Rosenfeld recently emphasized that Schaeffler had been relatively well managed through the Corona crisis so far.
The news from Herzogenaurach comes just one day after a "car summit" in Berlin, at which the federal government and industry discussed measures to strengthen the ailing automotive industry and its suppliers in Germany. The situation of the suppliers is considered particularly precarious. The Schaeffler competitor Continental recently announced major staff cuts.
.