India, Oct. 12 -- Schaeffler AG (SFFLY) said on Monday, that it has completed key structural measures under its earnings improvement program earlier than expected and signed 1,768 additional partial retirement agreements.
The German automotive and industrial supplier had planned to cut 4,700 positions by the end of 2029. As of September 30, 2026, it has eliminated 3,715 positions, or about 79 percent, and now expects to reach the full target by the end of 2028.
Schaeffler expects its planned 2029 savings of EUR 290 million to be exceeded by more than 20 percent and will reverse around EUR 84 million in surplus restructuring provisions. The additional partial retirement agreements are expected to generate positive cash flow from 2027 and c...