Schaeffler expands partial retirement offer in Germany, expects cost savings from 2027
Responding to strong employee interest, Schaeffler is expanding flexible partial retirement contracts at its German sites, expecting about 1,300 employees to participate and cost benefits from 2027.
- 1,300 employees
- 20%
- €51 million
- 2–8 years
What Happened
Schaeffler AG's Board of Managing Directors has decided to expand its partial retirement offer in Germany, responding to high employee interest and continuing steps to reduce cost structures at German locations and increase long-term competitiveness. The program was agreed with the Group Works Council and consists of flexible block models that largely correspond to those offered during structural measures announced in November 2024. To take part, both the employee and their supervisor must consent; terms vary by location and staffing options. About 1,300 employees in direct and indirect areas are expected to accept the offer, representing roughly 20 percent of employees born in relevant years up to and including 1971.
Structural measures announced; partial retirement contracts met with high demand during execution.
One-off expense of approximately €51 million recognized as special item following expanded offer.
Financial impact of the expanded offer takes effect.
“In offering these partial retirement arrangements, we are responding to the high level of interest among our employees while creating flexible solutions that meet both individual needs and the requirements of our company.”
- Block models with an active and a passive work phase
- Terms range from two years (one active, one passive) to eight years (four active, four passive)
- Vary by location and staffing options
- Require consent of both employee and supervisor
- Largely correspond to offers made during the November 2024 structural measures
€51 million
Recognized as a special item in 2026; financial impact starts in 2027.
By expanding its partial retirement offer, Schaeffler adds to the options for individual and predictable transition to retirement. The program also contributes to the balanced long-term enhancement of the age structure of the company's workforce. Schaeffler says this represents responsible and cooperative human resource management in dialog with employee representatives.
Why this matters
The expansion offers German employees flexible, predictable retirement transitions while helping Schaeffler lower cost structures at its German locations. About 1,300 employees are expected to take part, and financial benefits will start in 2027. The program builds on structural measures announced in November 2024 and aims to balance the company's workforce age structure.
Terms in This Story
- partial retirement
- An arrangement that lets older employees reduce their working hours before full retirement while receiving part of their salary.
- block model
- A partial retirement structure with an active working phase followed by a passive phase in which the employee is released from work.
- special item
- A one-time income or expense recorded separately in financial statements because it is unusual or significant.
Summarised from the linked release; details can be imperfect — always verify against the original source.