Massive job cuts are looming: In the case of every sixth digit is on the Brink

companies are far at risk 6,000 jobs acute, reported the "Handelsblatt" on Thursday, citing the group's circles. This number was communicated to the manageme

Massive job cuts are looming: In the case of every sixth digit is on the Brink

companies are far at risk 6,000 jobs acute, reported the "Handelsblatt" on Thursday, citing the group's circles. This number was communicated to the management Board and the works Council during a consultation meeting. The reduction is to be mastered according to the report, through attrition and severance pay.

company chief: "Significant job cuts", especially in the administrative

The company had announced at the beginning of the week, massive job cuts, without mentioning Details. The company's CEO Joachim Drees spoke of a "significant reduction", especially in the administration. The management Board and the works Council negotiated currently, about what measures would be implemented. The MAN Truck and Bus SE has approximately 36,000 employees worldwide, of which 21,000 were in Bavaria.

The Swedish Truck makers Scania to VW, a subsidiary of Traton company has just renewed its model range. But the declining demand for trucks in Europe to increase the pressure to act, said Drees on Monday. He expects demand to decline by 10 to 20 percent this year. Moreover, Truck makers increasingly stringent CO2 must comply with the requirements, otherwise huge fines from the EU threaten. TRATON SE 15,42 EUR -1,18 (-7,11%) Xetra

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Drees: Costs must be further reduced and the profitability will be significantly said to increase

Drees, WE've lowered the cost in the past years, clearly. But further measures were necessary "in order to make IT significantly more efficient and more profitable". The cost structure of the action was "clearly required". The need TO increase its profitability significantly to the very high level of investment for the restructuring of the group manage it.“

The "Handelsblatt"according to a report in the site could be closed in the Austrian Steyr. The production of light and medium-heavy Trucks could be shifted to Germany and Poland.

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hyo/dpa
Date Of Update: 12 March 2020, 11:00

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