Bilfinger To Cut 1,250 Jobs - Quick Facts

(RTTNews) - Bilfinger SE (BFLBY.PK) Thursday said it is implementing a new organizational and management structure, in an effort to improve operational efficiency also generate cost savings. The measures also include reduction of 1,250 employees worldwide.

As per the new structure, the non-operational Subgroup holdings will be merged into Bilfinger SE from January 1, 2014, while the operational management will be conducted by 14 divisions within the SE. Administrative functions will be streamlined and organized into shared service centers.

The existing reporting structure with the business segments Industrial, Power, Building and Facility as well as Construction remains unchanged.

Over the next two years, implementation of the measures is expected to generate personal cost savings of 80 million euros to 90 million euros. Non-personnel costs is expected to reduce by an amount in the low to middle double-digit million range.