Geberit Plans No Job Cuts Or Restructuring Due To COVID-19 Situation

Geberit is not planning job cuts, Chief Executive Christian Buhl said on Monday after the plumbing supplies maker warned the new coronavirus was hitting activity in the construction industry.

"We do not plan or see any need for restructuring, so we don't have any plans to cut jobs," Buhl told an investor call. "But of course we have put in place a hiring freeze in these times of very high uncertainty."

Geberit has closed three factories in Italy, France, and India, and had moved workers in France and Britain to short-time work to deal with lower demand. Its two factories in China that had been shut down are now operating again, Buhl said.

(Reuters)