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G&D has to cut back and lays off 950 employees

Friday 12 December 2014 | 10:20 CET | News
Germany-based technology group Giesecke & Devrient (G&D) has announced a cost-cutting programme, which is supposed to save the company at least EUR 100 million by the end of 2016. The measures include closing the banknote printing location in Munich next year and relocating production of banknote security systems to Louisenthal in 2016, where a centre of excellence is planned. The company also intends to close down the service centre in Munich as well as to streamline the administration. Layoffs of around 950 jobs are to be made worldwide, 630 of which will be in Munich. G&D has 11,600

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Categories: Internet / Mobile & Wireless
Companies: Giesecke & Devrient
Countries: Germany
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