Another 1,500 Cuts in Germany for Heidelberg

HEIDELBERG, GERMANY—Management and employee representatives for Heidelberger Druckmaschinen have come to terms on a plan to eliminate redundancy and enable the troubled manufacturer to remain viable. As a result, roughly 1,500 positions will be eliminated at six of Heidelberg's German facilities during the 2009-2010 fiscal year. Of the total, 1,300 will be lost jobs and 200 are "mutually acceptable" relationship terminations, likely buyouts and/or retirement packages.