VIENNA (Reuters) - Engineering group Andritz plans to cut jobs at its German subsidiary Schuler AG as the business feels the effect of a slowing car industry, its chief executive said on Wednesday without giving a scale.
Andritz, which employs around 6,400 people at Schuler in Germany, plans to use 14 million euros ($15.83 million)of the 20 million euros it set aside for restructuring measures in the fourth quarter at the German unit, a spokesman said.
Schuler specializes in systems, tooling, process expertise and services for the automotive industry.
"Schuler suffers from the automobile industry," Wolfgang Leitner told a news conference in Vienna. "It did not see the growth we were hoping for."