MacGregor targets staff cuts to save E20m

In a release the company said it would make “necessary adjustments with a plan to reduce the use of external workforce and the number of own personnel”.

This, coupled with a focus on improved internal processes, will lead to estimated restructuring costs of Euro5m in 2015.

The measures – affecting around 220 employees globally – are expected to achieve annual savings of Euro20m.

MacGregor employs approximately 2,750 persons in 33 countries, with the biggest number of personnel in Germany, China, Norway and Sweden. The latter two countries along with Singapore are expected to be the hardest hit.