German truck and bus manufacturer MAN, controlled by Volkswagen, announced that it could lay off up to 9,500 employees in Austria and Germany as part of its cost-cutting program amid reduced sales following the coronavirus pandemic (COVID -19).
This measure is intended to help the company achieve an 8% profitability in sales in 2023, said MAN, which belongs to the Traton group within Volkswagen.
According to the cost reduction plan, MAN’s development and production departments will be reorganized and the production units in Steyr, Austria, Plauen and Wittlich in Germany could be closed.
The company aims a cost cut of 1.8 billion euros ($ 2.1 billion) by 2023.
