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MAN AG to Make More Cost Cuts

Discussion in 'European/Other Countries Truckers Forum' started by Cybergal, Feb 19, 2009.

Feb 19, 2009 #1

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MAN AG to Make More Cost Cuts After Quarterly Profit

Feb. 19 (Bloomberg) -- MAN AG, Europes third-largest truckmaker, said it will cut costs further and extend reductions in employees work hours after the recession and declining sales caused fourth-quarter profit to plunge by almost half.
Net income declined to 177 million euros ($224.3 million) from 331 million euros a year earlier, the Munich-based company said today in a statement. MAN will trim costs in production and management by 500 million euros, Chief Executive Officer Hakan Samuelsson said at a Munich news conference, adding that first- quarter business hasnt improved on fourth-quarter figures.
http://www.bloomberg.com/apps/news?pid=20601100&sid=ag26iJeUcsbY&refer=germany
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Cybergal, Feb 19, 2009

Cybergal, Feb 19, 2009

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