The Munich-based commercial vehicle manufacturer MAN is set to cut around 2,300 jobs in Germany.
The lion's share of these job cuts will impact Munich, where 1,300 positions will be eliminated over the next ten years, according to a spokesperson for the Traton subsidiary on Thursday. The plants in Salzgitter and Nuremberg will also be affected. The spokesperson noted that fewer jobs will be lost than the number of employees retiring during this period. MAN must adapt to the persistently weak commercial vehicle market in Germany and continue to improve its cost structure, the spokesperson stated. "We are now entering a phase of heavy investment and must consistently generate profits in order to expand our product portfolio."
At the same time, one billion euros is set to be invested in German sites over the next five years, the spokesperson added. However, production for the "Traton Modular System" is expected to be located primarily in Eastern Europe, according to Chief Financial Officer Inka Koljonen in an interview published on the company's intranet and obtained by Reuters. This system is a unified platform for products across the entire group.
The IG Metall union warned on Tuesday that MAN was facing imminent cutbacks. Most recently, rival Daimler Truck announced plans to cut 5,000 jobs in Germany.
(Reporting by Christina Amann. Edited by Olaf Brenner. For inquiries, please contact our editorial team at Berlin.Newsroom@thomsonreuters.com (for politics and economy) or Frankfurt.Newsroom@thomsonreuters.com (for business and markets).
