Handelsblatt business daily first reported the plans, saying they involved cost savings and were designed to increase annual results by at least 3 billion euros
. The paper also cited company sources as saying the plans were not about job cuts, although the overall number of employees may decline.“Profitability and job security are equally important and common goals,” she told Handelsblatt, adding that the workers council would not agree to wage or job cuts. “But there are no plans in this direction,” she added.
In the memo seen by Reuters, Schaefer wrote that details of the revamp would be worked out in coming weeks and months. He also said that he wanted to increase synergies between brands with joint development and production, including using common platforms in some areas.
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