Meyer Werft Makes Cuts

Meyer Werft is negotiating new orders to build more cruise vessels and is hoping that respective decisions on the placing of orders will be made by this summer provided the war in Iraq will come to a soon end. The potential utilization identifiable from these negotiations will by far not suffice to employ the existing capacities. For this reason, a significant cutback of about 800 employees is mandatory. During today’s information meeting, Meyer Werft staff were informed about the forthcoming restructuring measures The management presented their plans how to secure jobs past 2004. The details of these plans are: Adjustment to capacities in line with the market Due to the difficult world economy and the reluctant market assessment Meyer Werft has to reduce their present staff of 2,600 by approx. 800. In doing so, the know-how indispensable for the shipyard, will not be affected. All measures required for a market-driven adjustment, will be discussed with the company’s staff council and the unions.