Manitou seeks layoffs

By Euan Youdale29 September 2020

Manitou Group has announced plans to reduce its headcount following the impact of Covid-19 on sales this year.

The France-based manufacturer said it has been facing a downturn trend since mid-2019, following a long period of growth. The economic crisis resulting from the pandemic has amplified the situation, meaning the group now forecasts a decrease in sales of around 30% in its 2020 financial year, compared to 2019.

Logo_ManitouGroup_Transp

Manitou’s announcement follows a meeting of its Central Employee Representative Committee yesterday to discuss a reorganisation and adjustment programme, designed to counter the impact of the pandemic.

The company said, ”As soon as the first signs of the crisis appeared, the group implemented a series of health, economic and organizational measures to protect its employees and preserve its financial situation.

”In this continuity, the project presented today to the Central Employee Representative Committee anticipates a reduction of 63 indirect positions within Manitou BF. A period of voluntary leave would be opened in order to limit forced layoffs.”

The company statement continued, “This project, combined with the measures already implemented in other countries where the Manitou Group operates, especially in the United States, India and Brazil, and with the board’s decision to waive the proposal to pay a dividend for the record 2019 fiscal year, will help to preserve the investment capacity required for the group to continue to innovate.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Long Reads
Top 5 private equity rental acquisitions 2021
We pick out five prominent acquisitions that have occurred throughout the year
Top 10 tower crane companies 2021
Who are the new entrants and which firms head up International Cranes and Specialized Transport magazine’s annual list of the world’s largest tower crane-owning companies?
Detailing North America’s latest breakbulk projects
Wind components, vessels and modules, ACT rounds up several significant breakbulk cargo projects.
CONNECT WITH THE TEAM
Alex Dahm Editor, International Cranes and Specialized Transport Tel: +44(0) 1892 786 206 E-mail: alex.dahm@khl.com
Mike Posener Sales Manager Tel: +353 860 431 219 E-mail: mike.posener@khl.com
CONNECT WITH SOCIAL MEDIA