MAN SE orders hiring freeze to counter profit plunge

Newswire

BERLIN, July 31 (Reuters) - Germany's MAN SE has ordered a broad-based hiring freeze at its truck and bus division to rein in costs as the commercial-vehicle maker's second-quarter operating profit plunged by half amid slowing world economies. MAN, which also makes diesel engines and industrial turbines, now expects the group's profit margin at "about 6 percent" instead of 8.5 percent as previously projected, the Munich-based company said in a statement on Tuesday. ...

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