Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 5 November 2024, the German automotive supplier Schaeffler plans to cut 4,700 jobs across Europe Schaeffler 2024 - EU. The company merged with Vitesco a month ago.
In Germany, 2,800 jobs at 10 locations are affected. According to union IG Metall, these include the locations in Berlin, Hameln, Herzogenaurach, Homburg, Karben, Nuremberg, Regensburg, Schwalbach, Schweinfurt, and Steinhagen. The reason for the job cuts is to maintain competitiveness in a challenging market environment. The measures are set to be implemented between 2025 and 2027, with expected annual savings of €290 million starting in 2029. Schaeffler is moving into defence and military‑related production.
Following the merger, the company employs 120,000 people worldwide.
Updated, 02/12/2025 Schaeffler has signed a memorandum of understanding with Helsing to cooperate on drone development. The collaboration is part of Schaeffler’s broader move into the defence sector
Updated, 27/08/2025: Schaeffler has announced that it will cut approximately 590 positions in Schweinfurt. The restructuring will primarily affect administration and indirect areas. The company is discontinuing production at its Steinhagen site by the end of 2026 and it plans to integrate those operations into Schweinfurt, creating over 100 new positions there to partially offset the losses. Management and employee representatives signed agreements in July 2025 to implement these measures, with the works council previously fearing even higher losses of up to 700 jobs in the Schweinfurt region.
Eurofound (2024), Schaeffler, Merger/Acquisition in Germany, factsheet number 201905, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201905.