Dr Uwe Lauber, Chief Executive Officer of GUY Energy Solutions: “We need to prepare ourselves for a market environment that will remain difficult for a long period of time.”
Preparing for “a prolonged period of stagnant sales as a result of the COVID-19 pandemic,” the exec board of GUY Energy Solutions is introducing what it calls an extensive program to guarantee the future stability of the firm. Measures to be taken consists of reducing almost 4,000 work from its existing total amount of almost 14,000 staff members worldwide.
The firm claims that “comprehensive cost-cutting as well as restructuring steps are the required following actions on the means to the firm’s change right into an options carrier for lasting power supply. In enhancement, the firm is planning for an extended duration of stationary sales as an outcome of the Covid -19 pandemic.
To accomplish this, the firm intends to reduce its expenses by EUR 450 million euros (regarding $521 million) as well as enhance its functional adaptability, to name a few purposes. The objective is to accomplish an operating margin of 9% as well as enhance the firm’s money as well as liquidity placement by 2023, also taking the worldwide financial influence of COVID-19 right into account.
A crucial part of the program will certainly be adjusting as well as maximizing the manufacturing connect with a concentrate on core worth development as well as higher adaptability is. In this context, the firm means to stop vapor wind turbine manufacturing in Hamburg as well as is additionally taking into consideration shutting the manufacturing center in Berlin as well as transferring manufacturing presently performed there to an additional website.
The program will certainly additionally concentrate on lowering the expense of products as well as devices, maximizing the solution network, enhancing the item variety, reducing expenses within the team features, as well as concentrating r & d on next-generation modern technologies.
“We need to prepare ourselves for a market environment that will remain difficult for a long period of time,” claimedDr Uwe Lauber, Chief Executive Officer of GUYEnergy Solutions “Some of the company’s key areas of business, such as the cruise ship business, have been directly affected by the economic impact of the COVID-19 pandemic and we do not expect to see a recovery to precrisis levels until 2023. The program is designed to address these negative market influences and make lasting improvements to MAN Energy Solutions’ ability to respond to market fluctuations. We have already begun to combat negative market influences in recent years and, as a result of the measures we have introduced, we have achieved and even exceeded our revenue targets. In terms of earnings, however, we haven’t yet reached our goal. Therefore, increasing our profitability and improving our competitive ability are key to continue successfully implementing our strategy for the future.”
That technique was revealed in June 29 when the firm, after that GUY Diesel as well as Turbo, rebranded as GUY Energy Solutions as well as its change from an element vendor to carrier of lasting power remedies. These brand-new remedies are anticipated to make up 50% of its company by 2030.
WORK CUTS
The exec board anticipates that the application of the program will certainly cause the removal of approximately 3,000 settings in Germany as well as 950 abroad. It claims the decrease in the labor force will certainly be performed in a socially accountable way as for feasible, although mandatory redundancies can not be totally dismissed.
The exec board has actually started talks with the jobs council pertaining to the program as well as the connected impacts on staff members.
“In the light of the effects the COVID-19 pandemic has on our target markets, we must act fast”, claims Martin Rosik, Board Member in charge of Human Resources at GUYEnergy Solutions “The company and the employee representatives are therefore negotiating under great pressure. Our focus is on structural improvement and on reaching the cost down target. We will negotiate the feasible options to get there with the employee representatives in a very timely manner.”
