The Homag Group plans to cut just under 600 jobs worldwide and expects this to produce savings of around Euro 25 million next year and roughly Euro 50 million per year from 2025.
Roughly 350 of the 600 jobs are to be eliminated at the German facilities. In Germany, this is to be done by means of voluntary programs as well as phased-retirement models to reduce social hardship.
Layoffs for operational reasons are currently not planned but cannot be ruled out. In addition to reducing jobs, the Homag Group also plans to make use of other flexibilization instruments such as the reduction of working-hour accounts and short-time work and has imposed an extensive freeze on new recruitment.
The Homag Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops.
