Mumbai, Nov. 4 -- German tier 1 supplier Schaeffler has announced a performance improvement programme aimed at eliminating overcapacity, reducing organisational complexity and lowering personnel costs in response to challenging conditions in the European automotive sector.

The measures follow the completion of restructuring initiatives announced in November 2024 and the execution of 1,800 partial retirement agreements in October.

The plan involves a net reduction of 3,460 positions across Europe, with approximately 2,660 cuts located in Germany, representing 9 percent of its domestic core workforce by 2028.

Furthermore, 50 percent of the affected positions are in production, 30 percent in research and development and 20 percent in func...