Schaeffler Layoffs Job Cut: may fire 4500 employees

The news is not good for the employees of the Schaeffler, which is major auto parts manufacturing company. We had reported earlier about the Schaeffler Germany Lay off Job Cut. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest on to add to the list is the Schaeffler Organization, which may be going for layoffs.
How many employees may be fired in the Schaeffler layoffs?
As per the reports, there can be around 4500 layoffs by Schaeffler. Though the company may be offering options like introducing short-time work, voluntary redundancies and partial retirement schemes.

What is the total no. of employees of Schaeffler?
The total no. of employees of Schaeffler is 28,000 people in Germany and 66,000 worldwide.

What will be the cost and savings by Schaeffler layoffs?
Around 250 million euros (US$340 million) can be saved by the layoffs.

When will the Schaeffler layoffs happen?
No conrete info is available about the dates.

Which locations and department of employees will be affected by the Schaeffler layoffs ?
The Schweinfurt and Herzogenrach operations are expected to be the worst hit. No more info available.

What is the primary reasons for Schaeffler layoffs?
Slump in global economy, falling demand, bad sales and no outlook for revival are the main reasons for layoffs.

Any other news about Schaeffler layoffs
As per DW Worlde, Schaeffler said in a statement that it will try to avoid compulsory redundancies "as far as possible."
Let's hope that alternative jobs are available to the affected employees of Schaeffler Layoffs Job Cut