Italcementi job losses halved under new government, unions and management deal

Layoffs at Italian cement maker Italcementi will be 538 not 1,080, according to Italian labour undersecretary Teresa Bellanova. The deal to halve the number of previously earmarked job losses among Italcementi's workforce of 3,000 was agreed by the government, unions and management ahead of the company’s €3.7 billion takeover by German rival HeidelbergCement, the world's second-biggest cement producer. The less severe job cuts will allow HeidelbergCement to expand operations in the Mediterranean, inc
December 8, 2015 Read time: 1 min

Layoffs at Italian cement maker 726 Italcementi will be 538 not 1,080, according to Italian labour undersecretary Teresa Bellanova.

The deal to halve the number of previously earmarked job losses among Italcementi's workforce of 3,000 was agreed by the government, unions and management ahead of the company’s €3.7 billion takeover by German rival 674 HeidelbergCement, the world's second-biggest cement producer.

The less severe job cuts will allow HeidelbergCement to expand operations in the Mediterranean, including Egypt, as well as in France and Belgium, which together comprise Italcementi's biggest market.

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HeidelbergCement expects further Italcementi synergies and construction buoyancy

HeidelbergCement, the German building materials giant, today raised its target for synergies from the takeover of Italian firm Italcementi for the third time in less than a year and joined peers in forecasting a rise in construction activity along with economic growth.

The €3.22 billion (US$4bn) takeover of Italcementi, announced in 2015, was part of HeidelbergCement’s push to expand in growth markets and keep up with larger French-Swiss rival LafargeHolcim.

HeidelbergCement expects economic growth in

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