Schaeffler to cut up to 750 jobs at German plant, union says

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German union IG Metall said that supplier Schaeffler plans to cut up to half of its 1,500 jobs at a facility in western Germany.

Schaeffler, a family-owned company, informed staff representatives and the IG Metall about the planned layoffs at its Wuppertal-based site last Friday, the union said.

IG Metall has urged the management of Schaeffler, which holds a near-50 percent stake in parts and tire maker Continental, to negotiate alternative steps to prevent the dismissals.