Parts supplier cuts thousands of jobs as Germany's auto woes deepen
An autonomous vehicle from Schaeffler at the IAA motor show in Munich, Germany last year.
Uwe Lein/dpa/Getty Images
- Thousands more jobs are under threat in Germany's beleaguered automotive industry.
- Parts supplier Schaeffler said it would cut thousands of jobs for a net reduction of about 3,700 workers.
- Union officials said Volkswagen plans to shut factories in Germany for the first time.
Germany's auto industry is under intense pressure — and now thousands...
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