newsweek.ro/economie/cutremur-pe-piata-auto-furniz

Schaeffler, a major auto parts supplier with operations in Romania, plans to cut 3,460 jobs across Europe due to declining demand and industry challenges. The restructuring involves closing five facilities, primarily in Germany, and aims to reduce costs significantly. The company cites excess production capacity and a slower-than-expected transition to electric vehicles as reasons for the layoffs. While the Romanian operations are not directly affected by this latest announcement, Schaeffler had previously indicated job cuts in Europe. The restructuring is expected to incur one-time costs but will improve financial results in the long term.