Jan 15 (Reuters) - Traton's MAN Truck & Bus will invest nearly 1 billion euros ($1.16 billion) in its German sites by the end of 2030 while also cutting costs in a deal struck with labour representatives to secure jobs, the company said on Thursday.
The agreement with the works council and IG Metall union limits the scope of MAN's restructuring, with 2,300 job cuts still planned over the next decade but forced redundancies ruled out until the end of 2035.
As part of the deal, the German truck manufacturer said it would reduce costs by about 900 million euros by 2028.
MAN Chief Executive Alexander Vlaskamp said the company was securing its competitiveness while meeting its responsibilities to German industry.
The union said that German job cuts would occur through attrition as workers retire, but the company will proceed with planned investment in manufacturing sites in Eastern Europe as part of its cost-cutting efforts.
"It is regrettable that MAN was unwilling to reconsider its investment decisions for Eastern Europe throughout the entire negotiation process," said Sibylle Wankel, a regional leader for IG Metall in Munich.
However, she welcomed what she described as the "robust employment guarantee".
($1 = 0.8598 euros)
(Reporting by Linda Pasquini, Ilona Wissenbach and Rachel MoreEditing by Madeline Chambers and David Goodman)
