Heidelberg, as a part of its efforts to return to profitability, has announced a program which includes deep cuts to its workforce. Dubbed FOCUS 2012, the program will cut 1,200 jobs in Germany and 800 jobs around the world. As of December, Heidelberg had 15,666 employees.
“The ongoing economic uncertainties will continue to put a brake on the industry’s recovery. We are seeing weaker demand in industrialized nations but stronger growth potential in emerging markets,” said Heidelberg CEO Bernhard Schreier. “FOCUS 2012 will position Heidelberg accordingly, above all by significantly reducing production capacities and by adjusting sales activities to the regional market changes. This will create the basis and efficient structures needed for profitable business development.”
In a statement from the company, the result of these cuts will see Heidelberg’s production capacity fall 15 percent. Cuts in service “will be adapted in line with the expected medium-term level of sales.”
These changes are to ensure Heidelberg’s targets of operating net results of around EUR 150 million by the financial year 2013/2014.