Kuka with 350 job cuts in Germany

For 2019, savings in the high double-digit million euro range have already been identified. The savings also include job cuts at the Augsburg headquarters which "cannot be avoided in the present situation", a press release states. Kuka anticipates a total of 350 full-time jobs will go in Augsburg (Germany) in the current year. The cuts will be concentrated primarily on so-called indirect areas. “We are well aware that this will not be an easy process,” says Peter Mohnen, CEO. “That is why we will be taking decisions with the greatest of care and in consultation with the employee representatives. We are aware of our responsibility, and our prime concern is Kuka’s future.” In China, the company is concentrating on establishing the joint ventures and will develop new products for the local market there. “We are working hard on our efficiency, maintaining strict cost discipline and will be sharpening our focus on the specific needs of our customers in their regional markets,” explains Peter Mohnen, CEO of Kuka AG. “To achieve this, we will be systematically implementing the initiated action plan.” During the past financial year Kuka Group generated orders received worth EUR 3,305.3 million and thus 8.5% below the previous year’s result (2017: EUR 3,614.3 million). A major factor here was the increasingly noticeable general economic slowdown, which affected two of the focus markets: the automotive industry and the electronics industry. Orders received were generated primarily in Europe. Kuka Group’s sales revenues amounted to EUR 3,242.1 million in 2018. Revenues were thus down 6.8% on the previous year’s result of EUR 3,479.1 million. Kuka Group’s order backlog amounted to EUR 2,055.7 million at year-end 2018. This is a slight decrease of 4.7% compared to the prior-year value (2017: EUR 2,157.9 million) and indicates good capacity utilisation in 2019, the release continues.