TechElectriveabout 2 hours ago
Schaeffler Cuts 3500 Jobs Amid E-Mobility Struggles
3 min read
Schaeffler cuts almost 3,500 jobs due to declining internal combustion engine sales and delayed electromobility ramp-up. The e-mobility division reported a negative EBIT margin of 14.8 per cent with €571 million losses. Around 50 per cent of cuts affect production, while 16 sites across Europe face closure or restructuring.
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