Schaeffler Cuts 3,460 Jobs, Closes Five Sites
The German auto supplier will close five European sites and reduce its workforce as demand for combustion-engine cars weakens.
Updated on Nov. 3, 2026 in Auto Parts
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Schaeffler will cut 3,460 jobs and close five sites in Europe, affecting 16 of its sites. The restructuring follows weakened demand for combustion-engine cars and slower-than-expected electric vehicle adoption.
Why it matters
The cuts reflect pressure on European auto suppliers as the shift to electric vehicles proceeds more slowly than anticipated amid intense competition. The changes will reshape the company's production footprint and workforce in Germany and Belgium.
Schaeffler expects annual savings of about €300 million by 2030 against one-off restructuring costs of roughly €480 million, most of which will be booked in 2026. The cuts include 2,660 jobs in Germany, equal to about 9% of its core German workforce by 2028.
The players
Schaeffler
Schaeffler is a German automotive and industrial supplier known for bearings and drivetrain components that serves carmakers worldwide.
The details
Schaeffler will close four sites in Germany and one in Belgium, with job cuts affecting 16 of its sites overall. The company said the restructuring responds to weakened combustion-engine demand, slower electric vehicle adoption and intense competition.
Timeline
Schaeffler announced the job cuts and plant closures on November 3, 2026.
Most of the one-off restructuring costs will be booked in 2026.
The German job reduction is scheduled to reach 9% of the core workforce by 2028.
Expected annual savings of €300 million are targeted by 2030.
Roadmap
The cuts show European auto suppliers scaling back combustion-engine capacity while electric vehicle adoption has progressed more slowly than industry forecasts. Schaeffler's reductions in Germany and Belgium illustrate how the transition is reshaping supplier footprints across the region.
Employees at the affected German and Belgian sites face job losses, with partial-retirement agreements covering some of the reduction. Consumers may see the effects in the long run through changes in supplier capacity for combustion and electric vehicle components.
The takeaway
Suppliers tied to combustion-engine parts face sustained pressure as electric vehicle adoption develops unevenly. Readers following the auto industry should watch how these restructurings affect supply availability and pricing over the coming years.
Further reading
Explore more coverage of Auto Parts developments across the global supply chain.
Source note: This article includes information reported by Global Banking & Finance Review.
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