The situation is serious at the Munich truck manufacturer MAN.
In the current year threatened deep red numbers, announced the group on Wednesday evening.
The situation is serious
at Munich-based truck manufacturer
MAN
.
For the current year, the
VW
subsidiary
expects
significant operational losses due to the corona pandemic.
That should put
additional strain on
the talks with the works council on the planned
job cuts
.
Munich - The Munich truck manufacturer
MAN
is
expecting deep red numbers for the current year
due to the
Corona
* pandemic.
By the end of the year one expects an operating loss between "550 and 750 million euros", announced the
MAN SE
surprisingly on Wednesday evening in a mandatory publication.
In the core business of
MAN
Truck & Bus, the
VW
* subsidiary
expects
"despite efforts to cut costs, an operating loss of between 450 and 650 million euros".
There are also further burdens at
MAN
Latin America and the holding company.
To justify the lowered forecast, the group referred to a “sharp drop in sales” and the temporary decline in production.
The introduction of the new truck generation, the decline in the after-sales business and the used vehicle business also had a negative impact.
This could also indicate valuation discounts in the vehicle fleet.
MAN: Development overshadows discussions about planned job cuts
Apparently the group is also struggling
with major difficulties
at its subsidiary
MAN
Latin America.
The company announced that sales were going “considerably” and sales were “very strong”, without giving any specific figures.
MAN
withdrew its forecast for the current year last March without publishing a new outlook.
Now the group has given a new guidance.
However, this does not yet include any expenses for the realignment announced on September 11 for
MAN
Truck & Bus.
After that, the Munich truck manufacturer wants to cut a total of 9,500 jobs, and the
Plauen
(Saxony), Wittlich (Rhineland-Palatinate) and Steyr (Upper Austria)
locations
are to be closed.
The works council has already announced massive opposition to the plans.
The works council head in Steyr, Erich Schwarz, considers the considerations to be a threat to the existence of the company.
Executive Board and Works Council of MAN Truck & Bus SE start negotiations on the company's realignment.
The management of the commercial vehicle manufacturer had presented comprehensive plans on the transformation of MAN.
More: https://t.co/INXk7CBJUS pic.twitter.com/f8Jqkl6o8m
- MAN Truck & Bus (@MAN_Group) October 22, 2020
Around 3,000 jobs are to be cut
at the
Munich
site alone
.
It was not until Wednesday (October 28) that the Bavarian Minister of Economic Affairs,
Hubert Aiwanger, got
an idea of the situation at the main plant in the Bavarian capital.
The heavy losses are likely to complicate the talks on the planned job cuts between the company and the works council.
From the negotiating circles it had recently been said that the employee representatives wanted to prevent operational dismissals.
Management wants to massively reduce costs.
In addition to the downsizing, the company also wants to cut the above-scale allowances.
* Merkur.de is part of the nationwide Ippen Digital editorial network.
