Neways to adjust parts of its organisation – jobs lost

As the same time as Neways adapts is structure in the Netherlands, the company will also structurally downscale its capacity utilisation in Germany, in a response to the lower demand from the Automotive sector as caused by the pandemic. These organisational adjustments will result in the loss of around 250 jobs, mainly in Germany. The company says that it estimates the cost savings resulting from these adjustments will be fully visible in the company’s results from 2022. “We do not expect to see an immediate recovery in turnover from the Automotive sector to pre-pandemic levels. This is reflected in our production volumes, especially in Automotive. In addition, we want to create more synergy by adapting two operating companies and position them more effectively in the market. As a group, we will focus more strongly on clients that we can support on several fronts as a system innovator and product life cycle partner, which gives us the opportunity to offer greater added value,” says Eric Stodel, CEO, in a press release. The company has started the preparations for the organisational adjustments at the operating companies involved and the reductions in the number of jobs. Neways says that it expects to avoid forced redundancies. The company has informed the works councils in Germany and the Netherlands and will ask them for recommendations.