German car parts maker Schaeffler cuts 4,400 jobsChristian Fernsby ▼ | September 10, 2020
German car and industrial supplier Schaeffler said that it will cut 4,400 jobs due to the impact of the coronavirus on the automotive sector.
The jobs cull will focus mainly on 12 locations in Germany and two elsewhere in Europe, the Bavaria-based firm said.
Chief executive Klaus Rosenfeld said the restructuring was “unavoidable in order to improve Schaeffler’s long-term competitiveness and ability to realise future opportunities”. ■