Heidelberg to Cut 1,600 Jobs and Reduce Capacity
Heidelberg, as part of its FOCUS 2012 Efficiency Program, concluded negotiations with its employees’ representatives, which will include reducing its global employee headcount to below 14,000 by mid-2014. As of December 31, 2011, Heidelberg had 15,666 employees worldwide.
The company will also immediately reduce its capacity at German production sites by around 15 percent. This will involve shortening the working week to 31.5 hours for all staff and reducing remuneration levels accordingly.
“In consultation with the Workers’ Council and the IG Metall union, we have devised a responsible concept for making the required cost and capacity reductions on a socially acceptable and sustainable basis through the global job cuts announced,” stated Heidelberg CEO Bernhard Schreier.
Heidelberg estimates these measures will help it realize cost savings of around EUR 180 million by financial year 2013/2014.
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