Heidelberg Concludes Negotiations on Planned Job Cuts

Thus, the company realizes its package of cost-cutting measures. The core element of this package is to achieve cost cuts equivalent to a reduction in personnel capacities of up to 5,000 jobs worldwide by financial year 2010/2011. Together with the measures now agreed, the company is reducing its global headcount by around 4,000. The additional savings will be made by dispensing with collectively agreed payments and payments above the general pay scale, and by agreeing flexible working time models to adapt personnel capacities to the order situation. The Management Board and executives are also foregoing remuneration to a comparable extent in order to help lower personnel costs. The agreed package of measures will result in these costs being cut by more than EUR 250 million during the current financial year compared to the previous year.