The printing press manufacturer is planning massive job cuts. Locations could also be closed. It should be negotiated with employee representatives at short notice.
Printing press manufacturer Heidelberger Druck is planning massive job cuts and is also considering closing locations. It was “a sustainable adjustment of production and structural costs planned, which includes job cuts of a total of up to 2000 jobs worldwide and can also lead to plant closures,” said the company on Tuesday evening. According to this, “short-term negotiations with the employee representatives on the concrete and as socially acceptable design as possible” should be started.
For the implementation of the measures, the company expects one-time expenses of around 300 million euros. “These expenses, as well as the effects of the increasingly worsening economic environment worldwide due to the corona pandemic, will have a greater impact on sales and earnings in the current financial year than previously expected.” 5 billion euros.
The majority of the measures to realign the company are to be initiated in the 2020/2021 financial year.
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