Schaeffler Completes Earnings Program with 1,800 Retirement Agreements

Schaeffler Group has finalized its earnings improvement initiative by securing approximately 1,800 new partial retirement agreements. These measures, initially announced in November 2024, were implemented ahead of schedule. The group has made notable progress in job reductions, cutting 3,715 positions by September 2026, aiming to reach its 4,700 target by the end of 2028. This is a year sooner than anticipated.

The partial retirement agreements reflect a significant uptake, addressing pension reforms in Germany. These agreements consist of active and passive work phases and are set to yield financial benefits starting in 2027. Schaeffler anticipates positive cash flow and earnings effects, projecting a 55 million euro benefit in 2029 and plans to form additional provisions for associated costs.

Klaus Rosenfeld, Schaeffler's CEO, highlighted the importance of these agreements in strengthening competitiveness and ensuring a balanced workforce age structure.