Imtech (IMUN.AS) said it would cut 1,300 jobs, or about 4.5 percent of its global headcount, and make more writedowns on its German operations, in a sign of escalating trouble at the Dutch engineering company.
Total costs related to financial irregularities still being investigated in Germany and Poland rose by 70 million to 370 million euros ($482 million), Imtech said in a trading update about the problems, which forced it to postpone its results.
Imtech said most job cuts would be in Germany and the Netherlands, with about a 10 percent reduction in staff numbers.
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via Imtech cuts jobs, takes more charges on German business | Reuters.
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