German Building Supplier to Axe Jobs

HeidelbergCement, a leading supplier of cement, concrete and building materials, said Tuesday it would axe around 1,100 jobs in 13 countries over the next two to three years. "In an effort to lower costs and boost efficiency, we will significantly streamline our organisation in Europe," HeidelbergCement said in a statement. The group, which employs around 42,000 employees worldwide and 25,000 in Europe, said it wanted to save around 50 million euros (60.5 million dollars) each year by streamlining its administration. "The measures, which will be implemented over the next two to three years, will lead to a reduction of about 1,100 jobs in 13 European countries," the statement said.