Ad
Ad
Ad
© alexey utemov dreamstime.com Electronics Production | April 23, 2015

Wincor Nixdorf restructuring – reduces headcount by 12%

IT solutions provider, Wincor Nixdorf, has launched a restructuring program after a decline in net sales and earnings. As part of the program will reduce its headcount.
On presenting its results for the first half of the current fiscal year 2014/2015, Wincor Nixdorf outlined details of the restructuring program launched by the company.

In the first half of fiscal 2014/2015 net sales fell by 2% to EUR 1'208 million (previous year: EUR 1,230 million), while operating profit (EBITA) declined by 31% to EUR 47 million (EUR 68 million). The EBITA margin fell by 1.6 percentage points to 3.9% (5.5%). Profit for the first six months of the fiscal year amounted to EUR 31 million (EUR 45 million), down 31% on the previous year's figure for the first half.

Spanning a period of several years, the restructuring measures to be implemented by Wincor Nixdorf are aimed at counteracting these developments. The aim is to achieve an additional positive annual earnings effect of EUR 120 million in fiscal 2017/2018. In parallel, expenses are also expected to amount to EUR 120 million in total. In implementing the program, Wincor Nixdorf will reduce its current headcount by around 1'100 (12%) over the next three years.

This will affect around 500 employees in Germany and 250 in other European countries. The company is planning redundancies as well as a transfer to outsourcing-based employment structures.

The Group-wide reduction in personnel levels will contrast, in the coming years, with staff upsizing in the growth areas of Software and IT Services. Thus, the net outcome of these measures will be a reorganized personnel structure for Wincor Nixdorf.

In addition, member of the Board of Directors Jens Bohlen will leave the company effective from April 30, 2015. With Jens Bohlen leaving the company, responsibility for the global Banking business at Wincor Nixdorf will change hands. As from May 1, 2015, responsibility for the company's global Banking business will be transferred to Christian Weißer, who has been appointed as Senior Vice President.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news