Heidelberg Negotiates Terms with Workers

Heidelberg's corporate management has negotiated a new set of terms with its works council in Germany that will enable the press manufacturer to, among other things, reap a cost savings of 80 million euro by fiscal year 2011-2012. The deal includes an agreement for German employees to forgo collectively agreed payments and company contributions, an option for Heidelberg to draw on additional working hours, and a progressive work time arrangement.