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KBA plans more job cuts

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KBA plans more job cuts

Article ID:

16652

According to KBA, consolidation and realignment will continue and the company intents to look into further diversification in print-related growth markets.

KBA CEO Claus Bolza-Schünemann during his speech to shareholders at the KBA general meeting in Würzburg.

As investment reluctance in web presses persists, Koenig & Bauer AG (KBA) announced at their recent 88th annual general meeting further market adjustments in the web press business. More than 2,000 jobs have been lost group-wide over the past four years. At the end of May the KBA group payroll came to 6,156 or 100 fewer than one year ago.

All in all, group order intake after five months came to €362m, 25% down on last year’s figure which was boosted by the industry’s leading trade show, Drupa. At the end of May order backlog of €614.5m was 28% lower than 2012,” the related KBA press release states.

(See KBA press release for more information.)

Author

Charlotte Janischewski's picture

Charlotte Janischewski

Date

2013-06-14 11:41

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