German Ball Bearing-Maker Cuts U.K. Staff and Cites Brexit
- German manufacturer to shrink U.K. workforce by half to 500
- Majority of Schaeffler goods made in Britain exported to EU
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Schaeffler AG said Britain’s exit from the European Union is partly to blame for a decision to scale down manufacturing in the U.K. and move production closer to where its products are used.
The German maker of ball bearings for use in machines including cars and the London Eye Ferris wheel will close two of its three British production plants and combine two logistics centers, it said in a statement Tuesday. The measures could cut its 1,000-strong British workforce by about half to 500.