Atlas Copco intends to bring back the cost structure of the company to a level, which safeguards and strengthens the company’s competitive position in the market, focusing on maintaining and building on core activities.
“It is unfortunate we had to make this decision but since a couple of years, the financial performance of Leybold as a group has deteriorated to a level that measures need to be taken,” said Geert Follens, President of Atlas Copco’s Vacuum Solution division. “Atlas Copco wants to take their responsibility in order to safeguard the future of the company and we will take into account all necessary measures in order to complete this in a social and best way for the people.”
In accordance with German labor law, the management of Leybold will enter into discussions and negotiations with the local Workers’ Council over a detailed restructuring plan in January 2017. The package of measures will be implemented during 2017- 2018 and will bring Leybold to a level of competitiveness which allows to strengthen and expand its market position sustainably.
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