| 10:12 PM EST

Schaeffler to Shed As Many As 750 Jobs in Germany

#Schaeffler #europe


Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Precision bearings maker Schaeffler AG plans to dismiss as many as half the 1,500 workers at its factory in Wuppertal, Germany, according to the IG Metall union.

Schaeffler blames the cuts on sluggish orders for the wind turbine components made there, the union tells Westdeutsche Zeitung. IG Metall and the local works council say they are pushing the company to find alternatives that would preserve jobs.

Schaeffler's operating earnings tumbled by one-third to €1.4 billion last year despite a 4% revenue gain to €11.1 billion. The company's industrial unit performed worse than its auto business.


  • How General Motors Develops World-Class Propulsion Systems

    Dan Nicholson is vice president of General Motors Global Propulsion Systems, the organization that had been “GM Powertrain” for 24 years.

  • 2016 Prius: The Fourth Generation

    The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).

  • Can You Glue A Car Together?

    I'm not talking about a plastic Revell model of a '57 Chevy, but a real vehicle, one that rolls off an assembly line in 1999 with another 99,999 just like it right behind. Is it possible, or is this just a fantasy of the marketing department at Elmer's?