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Traton's Scania says planning major staff cuts as downturn weighs

Jun 01, 2020 - Nasdaq

STOCKHOLM, June 1 (Reuters) - Swedish truckmaker Scania, owned by Germany's Traton 8TRA.DE , plans major job cuts in the wake of the coronavirus, anticipating it currently has 5,000 more staff globally than needed, it said in a statement on Monday. "Our assessment is that it will take long before market demand reaches pre-crisis levels and we therefore need to adapt the organisation to the new situation already this year," Scania CEO Henrik Henriksson said in a statement. "These will be compan...