German printing machine manufacturer Heidelberger Druckmaschinen (Heideldruck) will be cutting up to 2,000 jobs worldwide due to an internal restructuring. According to the management, the production of unprofitable machines will be ceased and the company intends to reduce its net debts through refinancing. Works council and the German Metalworkers’ Union are supporting the restructuring, as both believe that it will secure the company’s future in the market for digital industry . Details regarding the distribution of cuts as well a social plan have yet to be discussed. However, it is expected that Heideldruck will be closing smaller plants because of a dismissal protection agreement in place, until 2022, at its headquarter (5,000 employees) in Heidelberg.
Heideldruck has 11,500 employees worldwide.