“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

MAN: truck manufacturer wants to cut 9,500 jobs

Heavy-duty manufacturer MAN has announced plans to cut a quarter of its workforce worldwide.
Bad news for MAN employees. The German manufacturer of heavy goods vehicles, a subsidiary of the Volkswagen group, has announced that it plans to cut 9,500 jobs worldwide, as part of a global restructuring plan. 

MAN: truck manufacturer wants to cut 9,500 jobs

 These layoffs, aimed at savings of 1.8 billion euros, would affect all of the group's business sectors and several countries, including Germany and Austria. Three factories, in Steyr in Austria as well as in Plauen and Wittlich in Germany, could be closed, adds MAN.



"MAN's management board will quickly start negotiations with employee representatives" on the restructuring, the manufacturer said in a statement. In the first half, marked by the Covid-19 pandemic which plunged large swathes of the economy into an unprecedented crisis, MAN posted an operating loss of 423 million euros with a drop in turnover by 26% over one year, to 4.7 billion. In the second quarter in particular, the factories of the manufacturer of buses and trucks had been partly closed.

Comments