Heidelberger printing to nix another 2,500 jobs
Published on: 26 Mar 2009 16:41 CET
The manufacturer already anounced the elimination of thousands of positions in 2008 and it will have reduced its workforce by one-fourth to 15,000 by the end of 2009.
The city of Wiesloch-Walldorf will be particularly wounded by the cutbacks, with 2,000 workers out of a job. Meanwhile the company plans to shut down a factory in Mönchengladbach, and other closures may also follow, CEO Bernhard Schreier said on Thursday.
The financial crisis and resulting recession has laid waste to everything “that once was,” he said, adding that the company could not rule out even more job cuts. Many workers have already had their hours reduced, he said.
Meanwhile trade union Metall IG has vowed not to accept the cuts, saying the company should cut hours for workers instead.
The job cuts are expected to save the company up to €400 million in 2010.