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1/28/2002



Rail News: Rail Industry Trends

Greenbrier reduces European jobs, operations


The Greenbrier Companies Inc. Jan. 27 announced that it had cut 200 jobs — or 20 percent of its workforce — at its German and Polish plants, and consolidated certain European operating, financial and marketing activities. Most of the job reductions affect Greenbrier’s Swidnica, Poland, plant.
The company plans to restructure its German operations to focus primarily on sales, marketing and certain technical activities, and reduce capital expenditures at its Polish factory as part of a broader European profitability plan aimed at annually saving $4.5 million.
"Over the past three-and a-half years, Greenbrier has grown revenues in Europe from less than $20 million annually to over $100 million, [but] despite these successes in top-line growth, current operations have not met profit and efficiency goals," said William Furman, Greenbrier president and chief executive officer, in a prepared statement.


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