Print machinery giants
Two of Germany’s leading press and print machinery manufacturers, Heidelberg and KBA, both reduced working hours for their employees as of November, blaming reduced sales. Both have already started cutting their payrolls. The November issue of Bundesverband Druck & Medien’s monthly poll of business expectations in the German print industry show that more than half of the firms consulted expect further falls in sales in the first half of 2009. This is the worst prediction since these polls were started in 1991.