"The way the schedule comes now, we didn't see him getting into a lot of games in the next couple of weeks," Devils coach John Hynes said. "When a player, particularly a goalie, if you're not going to have an opportunity to play, it's hard to get the game reps and confidence that you need."
In a corresponding move, the Devils have recalled goalie Louis Domingue from Binghamton. In four games there, he was 2-1-1 with a 2.25 goals-against average and .918 save percentage. The 27-year-old Domingue was acquired from the Tampa Bay Lightning on Nov. 1 for a seventh-round draft pick.
Schneider, 33, was the Devils' primary goalie for years after he was acquired from the Canucks in 2013 for a first-round draft pick. For a three-year stretch, he was one of the top goaltenders in the league, making the All-Star Game in 2016.
For the past three years, however, his playing time has gone steadily down. He appeared in only six games this season, going 0-4-1 with a 4.59 GAA and .852 save percentage. MacKenzie Blackwood, 22, has become New Jersey's primary backstop, but he isn't playing as well as he did in his rookie season last year -- posting a 2.79 GAA and .904 save percentage.
Schneider is unlikely to be picked up by another team, given his $6 million salary-cap hit and two years left on his contract after this season.
Schneider spent time at Binghamton last season working on his game and played well late in the season. It has not carried over to this season.
"If he does clear waivers and go to Binghamton, it's not the end of the road for us here," Hynes said.
Devils captain Andy Greene said Schneider played well in training camp, but he has struggled since the season started. A couple of teammates spoke with the goaltender after the move was announced.
"It's just one of those things where it's tough," Greene said. "You don't really know what to say or how to react. We need to support him and support everybody else in the room as best we could."
The Associated Press contributed to this report.