Schaeffler AG Expands Partial Retirement Offer in Germany to Reduce Costs

Schaeffler AG has decided to expand its partial retirement offer in Germany after receiving strong employee interest during the rollout of its workforce restructuring measures. The expanded initiative forms part of the company's broader strategy to lower cost structures across its German operations while strengthening its long-term competitiveness. The move follows structural measures announced in November 2024 and reflects continued progress in aligning the company's workforce with its future operational requirements.

Expanded Partial Retirement Program Following Strong Employee Interest

The company reported significant demand for the partial retirement contracts introduced under its restructuring program. Depending on individual locations and staffing requirements, the available retirement models differ in duration, offering terms ranging from two years, consisting of one active working year followed by one passive year, to eight years, comprising four active years and four passive years. These flexible arrangements are intended to support workforce transition while maintaining operational continuity across different business locations.

Employee Participation and Financial Impact

Approximately 20% of eligible employees born in the applicable years up to and including 1971 are expected to participate in the expanded offer. This represents around 1,300 employees working in both direct and indirect functions. The company expects the implementation of the program to result in a one-time expense of approximately EUR 51 million during 2026, while the resulting financial effects are anticipated to begin impacting its business performance from 2027 onward.

Frequently Asked Questions

Why is Schaeffler AG expanding its partial retirement offer in Germany?
Schaeffler AG is expanding its partial retirement offer in Germany after experiencing strong employee interest during its workforce restructuring program announced in November 2024. The initiative supports the company's objective of reducing operating costs at its German facilities while enhancing long-term competitiveness. Around 1,300 eligible employees are expected to participate, with implementation creating a one-time expense of approximately EUR 51 million in 2026 and financial effects beginning from 2027.