Truck parts maker SAF Holland will close one of its three plants in Germany within the next two years, CEO Reiner Beutel told Financial Times Deutschland.
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It will cut 80 of 900 jobs in Germany and forced lay-offs will likely not be avoided, the CEO added.
The company has two plants at its headquarters in Bessenbach, in Bavaria, and another site near Woerth am Main. The CEO did not say which would be shut.
The measure is part of a programme to reduce personnel and material costs by EUR30-40m worldwide. About half of the savings will have to be realised on the domestic market, the other half in the USA, Beutel said.
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