German Bilfinger says to axe 1,250 jobs worldwide

Thu Sep 19, 2013 3:21pm EDT
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FRANKFURT (Reuters) - German construction and industrial services group Bilfinger SE (GBFG.DE: Quote) plans to cut 1,250 jobs worldwide, or just under 2 percent of its workforce, over the next two years as it seeks to cut sales and administration costs.

From 2015, the job cuts would save up to 90 million euros ($122 million) in personnel costs as well as a low to mid-double digit million euro amount in non-personnel costs, the company said in a statement on Thursday.

Bilfinger had just under 67,000 employees at the end of 2012.

($1 = 0.7384 euros)

(Reporting by Jonathan Gould; Editing by Victoria Bryan)

The logo of German industrial services provider Bilfinger is pictured on their headquarters in Mannheim January 21, 2013. REUTERS/Lisi Niesner