German auto parts maker Schaeffler, which owns much of compatriot Continental, will cut output owing to effects of the financial crisis and economic slowdown, a press report said on Wednesday.
“We are reorganising production, we will have to reduce part of it,” the business daily Handelsblatt quoted a Schaeffler spokesman as saying.
The company could also adjust its workforce, which includes 4,000 part-time workers.
Bavarian-based Schaeffler does 60 percent of its business with car makers, and major clients like BMW, Daimler and Opel have announced production cutbacks in Germany, sometimes with temporary staff reductions.
Schaeffler is also paying the price of its August public offer for Continental shares, which have fallen sharply since their purchase on Frankfurt's stock market.
As a result, Schaeffler boss Juergen Geissinger has said the company expects to cut investments next year by 35 percent.
