German cable systems manufacturer Leoni warned that it would not reach its profit target set just a month ago. In addition, the company plans to cut 2,000 people. “The company faces a challenging environment in the markets, especially in China,” Leoni said, adding that orders from car manufacturers dropped significantly.
On questions from Money.bg, the German company replied that major management positions would be cut and that the reduction of the workforce would not affect production positions. The company also said it did not decide exactly where the redundancies will be done. In this connection, the company also assured that they …read more