# Schaeffler to cut 3,460 jobs and eye defense as German auto industry faces fresh cuts

https://mins.news/en/item/127134

- CNBC, 2026-11-03 12:50 UTC
- Economy
- Original: https://www.cnbc.com/2026/11/03/schaeffler-job-cuts-europe.html

> Schaeffler plans to close five plants across Europe as it seeks to compete with China on costs and shift toward defense and robotics.