Automotive and industrial supplier Schaeffler has announced plans to eliminate approximately three thousand four hundred sixty jobs across Europe, with roughly two thousand six hundred fifty of those reductions falling on operations in Germany. As part of the restructuring, the company intends to shutter four German manufacturing facilities, including sites in Dortmund and Morbach, to cope with the ongoing downturn in the automotive sector and cut annual costs by around three hundred million euros by the year two thousand thirty.