Schaeffler is trading at €5.69, down 4.69%, after announcing plans to cut 3,460 jobs and close five European sites. - Schaeffler cited weaker demand and intense competition; the measures carry about €480 million in one-off costs. - Nine-month results showed a softer third quarter, with a 4.2% EBIT margin before special items versus 4.5% a year earlier; full-year guidance was confirmed. - Reuters reported the announcement alongside the share decline.