Heidelberg Shedding Another 2,500 Jobs

HEIDELBERG, GERMANY—Heidelberg has stepped up its cost-cutting initiatives with the announcement that it is laying off another 2,500 employees. The move is expected to result in a total savings of 400 million euro, double the previous target for the 2010/2011 fiscal year set by Heidelberg. In all, the company is reducing its workforce by 5,000.