MAN, the German bus and truck manufacturer owned by Traton (the owner of Scania), has reached an agreement with unions on cost savings of 900 million euros per year by 2028. Under the agreement, MAN has promised to invest almost 1 billion euros in its German facilities by the end of 2030, the company said in a press release.
The agreement means that all facilities in Germany are protected from closure, with job guarantees until the end of 2035. According to the agreement, new hires and cutbacks will follow demographic trends.
The agreement has been reached with union representatives on Traton's board and IG Metall representatives.
Traton's share price fell 0.3 percent after the deal.
TT News AgencyEnglish edition by Sweden Herald, adapted for our readers
What do you think?