Layoffs at Italian cement maker
The deal to halve the number of previously earmarked job losses among Italcementi's workforce of 3,000 was agreed by the government, unions and management ahead of the company’s €3.7 billion takeover by German rival
The less severe job cuts will allow HeidelbergCement to expand operations in the Mediterranean, including Egypt, as well as in France and Belgium, which together comprise Italcementi's biggest market.