MAN SE Plans 1,400 Job Cuts as Turbo-Engine Division Reorganized
- Hamburg turbine plant to be converted to a servicing site
- Revamp is targeted at improving earnings by 450 million euros
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MAN SE, the German truckmaking division of Volkswagen AG, plans to cut 1,400 jobs at its diesel-engine division following a review aimed at reversing a drop in the unit’s earnings.
Efficiency measures, including restructuring three businesses so they share more costs, are targeted at boosting profit by 450 million euros ($505 million), Augsburg, Germany-based MAN Diesel & Turbo said Friday in a statement. Steam-turbine manufacturing will be halted in Hamburg, which will become the site of an after-sales service center, and be focused instead in Oberhausen, Germany, and Bengaluru, India. A compressor factory in Berlin will switch to making turbomachinery components.