German automotive parts producer Schaeffler will cut a total of 1,300 of its almost 83,000 jobs worldwide by 2026.
Some 1,000 of the job cuts will be in Germany.
The company justified the measure on Tuesday as a way to address overcapacity and reduce fixed costs, particularly in the automotive technologies division.
In a statement the company said it expects to save about €100 million ($100 million) annually.
The cuts announced come after the firm cut 4,400 posts in a previous round of restructuring in 2020.
The company was "moving into an environment where being the technology leader is no longer enough," automotive technologies chief executive Matthias Zink said.
"The critical factor now is to have in place the competitive cost structures needed to further accelerate the transformation process and ensure that Schaeffler is fully geared for powertrain electrification. And that in turn requires us to reduce our cost base and cut overcapacity.”
Most of the job cuts will be in administration and research and development for internal combustion engines roles, with some production workers going.
Within Germany, the locations affected are mainly Herzogenaurach, Bühl, and Homburg.
The measures were an "important step towards ensuring future growth," regional chief executive for Europe Sascha Zaps said.
"Their purpose is to further sustainably strengthen Schaeffler’s competitiveness and future-readiness and to enable us to safeguard jobs in Germany over the long term."
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