Deutz cutting 1,000 jobs

19 August 2020

Deutz AG has announced a reduction of up to 1,000 positions in the company’s global headcount.

DEUTZ-company_production-cologne_engine01-800x533

The German engine manufacturer said it would first eliminate 350 jobs via a volunteer programme running from 1 September, 2020, to 31 March, 2021.

The aim of the measures, Deutz said, is to further strengthen the company’s competitiveness at a global level while protecting the viability of Germany as a company base.

From 2022 onwards, the newly announced ‘Transform for Growth’ efficiency programme is scheduled to realise annual cost savings of around €100 million, Deutz said.

Against the backdrop of the planned measures, Deutz said it will set aside provisions for restructuring costs – predominantly in connection with personnel measures – of €35–40 million in the current quarter.

This story was originally published by sister magazine Diesel Progress.

Latest News
Boels orders 600 Atlas Copco compressors
Order includes plug-and-play, electric-powered portable compressors for low emission zones
Initial works contract for US$6.6 billion Australian rail link
Laing O’Rourke has been awarded the Initial Works and Early Works package for Suburban Rail Loop in Australia
Business leaders’ recognition for waste company MD
UK’s Institute of Directors honours Jacqueline O’Donovan at annual awards event