10:25 AM EDT, 10/12/2026 (MT Newswires) -- Schaeffler (SHA0.F) expects to complete its target of cutting 4,700 roles under its earnings improvement program by the end of 2028, a year ahead of its initial target. The German automotive and industrial supplier said Monday it had trimmed 3,715 positions as of Sept. 30, with contractual arrangements for the remaining 985 roles already in place. Additionally, Schaeffler signed 1,768 new partial retirement agreements by Oct. 5, up from its expected 1,300 retirement deals. The acceleration of the structural measures resulted in cost savings of 84 million euros, effective Sept. 30, 2026, and is expected to positively impact the company's cash flow starting in 2027.

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