Heidelberg Reaches Pact with Employees on Reductions

"The outcome of the negotiations will enable us to adjust capacities to meet demand and achieve the announced savings as planned. 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," Heideberg CEO Bernhard Schreier said.