By on September 10, 2020

Germany’s Schaeffler AG will reportedly be eliminating 4,400 jobs and abandoning several facilities in its home country as the supplier confronts what it dubbed complications relating to the global pandemic. Like Continental, which is actually controlled by the same people, Schaeffler has been coping with lessened demand after automakers around the globe shut down earlier this year as a precautionary measure. While the coronavirus lockdowns can’t be faulted for every issue the companies are facing, they have been a thorn in the side of parts suppliers everywhere.

Continental announced it would need to eliminate roughly 13 percent of its workforce last week. That’s roughly 30,000 fewer jobs. Schaeffler’s restructuring plan only calls for eliminating 4,000 positions. However, it is the smaller of the two and has decided to spread its cuts out as much as possible.

(Read More…)

Recent Comments

  • ToolGuy: @MitchConner, That is a very thoughtful comment. Mine was kind of a throwaway. Now – why do you hate...
  • dal20402: 226 inches, and likely less interior room in most dimensions (except width) than my Bolt, which is an...
  • Lou_BC: True. Polaris quads did have an issue with catching fire. My neighbour’s shed burned down and if it...
  • MitchConner: Tool Guy (great username by the way — as it fits), Nikola already conceded they fraudulently represented...
  • Inside Looking Out: I always liked the bold futuristic style of end of 1950s American cars given that I saw them only...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber