MAN: shock news
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FURTHER mass redundancies have been announced at MAN. The company is facing serious difficulties and board changes are also reported to be imminent.
Die Welt, in month.
The company has warned shareholders to expect a trading loss of £75m this year as a result of a further 14 per cent fall in sales. MAN lies been hit especially hard overseas — particularly in the OPEC countries — and exports which in 1981 accounted for 74 per cent of production now represent less than 40 per cent.
Nevertheless, news that a further 2,350 jobs must go by the middle of next year — making a total of 6,000 redundancies since 1981 — came as a shock to the workforce and to the industry in general.
Die Welt's editorial accuses the board and the company's major shareholders of appearing to act without an overall concept.
There are rumours that MAN's acting chairman, Otto Voisard, will be replaced, although there appears to be a disagreement over who will succeed him.