Schaeffler to Lay Off 4,700 Workers Amid European Auto Sector Challenges – Equitypandit
November 5, 2024November 5, 2024 Schaeffler, a German machine and car parts manufacturer, announced plans to lay off 4,700 employees in Europe after its operating profit nearly halved in the third quarter, reflecting difficulties in the European automotive industry. Schaeffler stated that the layoffs are a response to a…