MAN to cut 1,400 jobs to save over $500 million
German heavy goods vehicles maker MAN has planned to cut 1,400 jobs at its diesel-engine operations to increase savings by over €450 million ($500 million). The restructuring plan includes streamlining internal processes, cutting costs in development, distribution and other areas, and promoting strategy and portfolio development, the automaker said. Notably, MAN is owned by the Volkswagen Group.