The company Schaeffler cuts many jobs. 3,460 jobs vanish. 2,660 people lose work in Germany. This is almost 9 percent of all workers in Germany.
Schaeffler closes 4 sites in Germany. The factories in Dortmund and Morbach suffer. Berlin and Schwalbach are also affected. A small site in Herstal in Belgium closes.
Many other places change. These include Herzogenaurach, Buehl and Regensburg. Jobs vanish in France and Slovakia too. The rebuild costs 480 million euro.
The auto industry in Europe has big problems now. People buy fewer cars. The change to electric cars takes more time than thought. Chinese companies rival German firms.
Schaeffler wants to save much money from the year 2030. The goal is 300 million euro per year. The company wants to build other things in the future. For example parts for robots and for the army industry.
