The German industrial group Schaeffler is reducing its staff. 4,700 jobs are disappearing in Europe, around 2,800 of them in Germany, writes German Bild.
The reason is a declining market and the electric car market currently standing still.
"It is a necessary program under current circumstances to ensure the company's long-term competitiveness", says Schaeffler's CEO Klaus Rosenfeld.
Ten cities in Germany are affected, as well as five other cities in Europe. Schaeffler's office for operations in the Nordic and Baltic regions is located in Stockholm, but it is unclear whether the office is affected.
