MAN Terminates Job-Security Agreements in Germany, Austria

   By Kim Richters

MAN SE said Tuesday that its MAN Truck & Bus business is terminating job-security and site-continuation agreements in Germany and Austria ahead of talks with employee representatives about planned restructuring.

The German company, which is owned by Traton SE, said it is terminating the agreements within the stipulated period as of Sept. 30.

If the company and the representatives don't reach an agreement by the end of 2020, the agreements are to expire according to their terms. However, they may be reinstated, MAN said.

"This termination also affects benefits beyond the collective bargaining agreement scale which also relate to this agreement," the company said.

MAN said earlier in September that it plans to cut up to 9,500 jobs--or a quarter of its workforce--at MAN Truck & Bus business in Germany, Austria and other countries.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

September 29, 2020 06:41 ET (10:41 GMT)

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