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1 April 2020
Heidelberg Announces Layoff Of Up To 2000
HEIDELBERG , GERMANY—
Heidelberg has begun to implement a wide-ranging “action package” to restore profitability that will see up to 2,000 jobs lost and possible plant closures. Heidelberg has about 11,000 employees worldwide. The new strategy, named by the company as “painful changes”, will be put in motion to refocus the German manufacturer on its most profitable business units.
CEO of Heidelberg Rainer Hundsdörfer said that planned job and operations cuts were still in the discussion phase and further details could not be disclosed at this time. Heidelberg plans to use the additional liquidity to eliminate nearly all of its net debt - especially to pay off a high-yield, 150 million euros bond early - and to substantially improve the Company's financing structure. Heidelberg has sales of about $2.6 billion world wide.
Rainer Hundsdorfer CEO of Heidelberg
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Heidelberg world headquarters Germany
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