OXEA launches comprehensive transformation program
Strengthening competitiveness and securing the future in Germany
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OXEA is responding to ongoing economic challenges with a comprehensive transformation program. Targeted measures are intended to make the German business competitive again and put the company in a robust position for the coming years.
"The persistently weak demand in key customer industries has led to considerable market pressure in our end markets for some time now. This is having a noticeable impact on volumes, prices and earnings and makes adjustments on the structural and cost side urgently necessary," says Bastian Kuhl, Chief Transformation Officer at OXEA.
The program includes investments in future fields and new capabilities as well as efficiency measures. These include savings on material costs and materials as well as improvements to processes and organizational procedures.
As part of the transformation program, structural adjustments are also required in the area of human resources. The management is currently assuming that the number of employees will be adjusted by around 140 positions. This adjustment will affect OXEA's three German locations. This figure serves as a guideline for the upcoming discussions with employee representatives and is expressly not a final decision.
The management of OXEA in Germany has already started talks with the employee representatives. The aim is to work together to find viable solutions and develop socially acceptable measures.
"This situation is undoubtedly very stressful for our employees. This makes it all the more important for us to manage the upcoming process transparently and responsibly while remaining in close contact with the employee representatives," says Christina Fuchs, Chief Human Resources Officer at OXEA.
The talks will continue in the coming weeks.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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