Heidelberg announces 850 job cuts

The German press manufacturer revealed that it would cut 450 jobs worldwide in administration and sales as well as a further 400 at its Wiesloch/Walldorf site in Germany.

Heidelberg chief executive Bernhard Schreier said the cuts would make the company a “leaner and more efficient organisation”.

He added that there is “no prospect of a significant increase in the industry’s investment volume in 2010″ and that the company is “adapting our company’s capacities and structure accordingly”.

The company will also restructure the group into three new divisions: Heidelberg Equipment, Heidelberg Services and Heidelberg Financial Services.

In October Heidelberg announced 1,500 jobs would be cut at its German operations.

Based in Heidelberg, Germany, with development and production sites in seven countries and around 250 sales offices across the globe, the company supports around 200,000 customers worldwide.

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