Jan 15 (Reuters) - Traton's <8TRA.DE> MAN Truck & Bus will invest nearly one billion euros in its German sites by the end of 2030 while also cutting costs, in a deal struck with labour representatives
Truck maker MAN announces investment and cuts in deal to save jobs
Investment and Job Security Measures
Jan 15 (Reuters) - Traton's <8TRA.DE> MAN Truck & Bus will invest nearly one billion euros in its German sites by the end of 2030 while also cutting costs, in a deal struck with labour representatives to secure jobs, the company said on Thursday.
Cost Reduction Strategy
The German truck maker said it would reduce costs by around 900 million euros ($1.05 billion) by 2028.
Job Security Commitment
The company said it had agreed with the works council and IG Metall union to grant job security at least until the end of 2035.
Concerns Over Job Losses
IG Metall did not immediately respond to a request for comment.
In November, IG Metall had warned that around 3,000 jobs could be lost at MAN in Germany within a decade and criticized the relocation of production to Eastern Europe.
($1 = 0.8595 euros)
(Reporting by Linda Pasquini, Ilona Wissenbach and Rachel MoreEditing by Madeline Chambers)
