Management now expects being in a position to reduce annual costs by up to €1.2bn from 2017 to 2020. However, this number is not an annual cost saving number but an accumulated one, i.e. annual costs are believed to being reduced by another €300m or a good 1% of annual turnover. Management intends not to replace some of the retiring employees. In addition, lower inventories are believed to reduce costs by some €250m and lower other costs contribute another €200m. Finally,
06 Jun 2016
Cost reduction programme is increased
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Cost reduction programme is increased
- Published:
06 Jun 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Management now expects being in a position to reduce annual costs by up to €1.2bn from 2017 to 2020. However, this number is not an annual cost saving number but an accumulated one, i.e. annual costs are believed to being reduced by another €300m or a good 1% of annual turnover. Management intends not to replace some of the retiring employees. In addition, lower inventories are believed to reduce costs by some €250m and lower other costs contribute another €200m. Finally,