Cassidian wil possibly fire 850 people

Cassidian is rigorously pursuing its agenda of achieving a sustainable boost to its competitiveness and is slimming down its structures. Its aim is to save at least 200 million euros a year by 2014. As part of these savings it is intended that up to 850 jobs will be reduced, with the focus primarily on management and administration.

Bernhard Gerwert, CEO of Cassidian, said: "Our objective is to have the closest possible customer relationships and at the same time to increase our competitiveness." In addition to its traditional European sales markets in Germany, France, Spain and the United Kingdom, Cassidian will further strenghten its market presence in the Middle East, Brazil, India and the USA. Gerwert continued: "This is why cost reduction and efficient structures are the top priority for us. With leaner structures we can guarantee shorter response times. In this way we intend to continue growing and boost our profitability to benchmark level." He further pointed out that "We want to manage the planned headcount reduction without any enforced dismissals."

Gerwert and his new management team laid down the current course of action in September this year, placing the emphasis on competitiveness and profitable growth. The detailed planning now being implemented will lead to lean management structures and a product portfolio focused on defence and security.

"We will stabilise our defence business and invest stronger in selected security segments, such as border protection systems and communication systems," said Gerwert.

Source: Cassidian