German truck maker MAN , which is controlled by Volkswagen, said on Friday it could hack to 9,500 jobs as a part of a cost-cutting programme.
The programme’s aim is to realize an operating return on sales of 8% in 2023, the Munich-based group said.
MAN said it planned a partial relocation of a number of the event and production processes to other sites, adding that sites at Steyr in Austria and Plauen and Wittlich in Germany are up for discussion.
“The Executive Boards are currently expecting the personnel measures arranged to cause redesigning expenses within a medium to upper three-digit million Euro range,” it added.
The company is targeting cost savings of 1.8 billion euros.
