Schaeffler to accelerate job cuts and lift expected savings
Schaeffler expects to complete its 4,700-role reduction a year early and beat its 2029 cost-saving target by more than 20%.
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what happened
Schaeffler expects to complete its workforce-reduction program one year earlier than planned, by the end of 2028, Dow Jones Newswires reported. The automotive supplier also said savings in 2029 should exceed its previous forecast of 290 million euros ($324.8 million) by more than 20%.
The company announced plans in November 2024 to eliminate 4,700 positions by the end of 2029. It said about 80% of the target has already been achieved, while contractual arrangements are in place for all 985 roles still due to be removed.
Schaeffler added that it has agreed to 1,800 partial-retirement arrangements. These measures are expected to support cash flow from 2027 and produce a positive earnings impact of approximately 55 million euros in 2029.
why it matters
The faster restructuring timeline and higher cost-savings target could improve Schaeffler’s financial profile, with the partial-retirement agreements expected to affect cash flow from 2027.
instruments
sources
- Schaeffler Says Job-Cutting Plans Are Ahead of Schedule — Dow Jones Newswires, 12 October 2026 at 12:47 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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