ABB launches stage 2 of its Next Level strategy
ABB has launched the second stage of its Next Level strategy with a reorientation of its divisions in order to create more customer value.
ABB plans to save USD 1 bn (EUR 891 m) in the employee range and release USD 2 bn (EUR 1.782 m) in cash. In addition to this the company is prepared to consider further acquisitions.
The second stage of the Next Level strategy particularly involves administration, that is, sectors which are not directly located in production. Here about USD 1 bn is to be saved by the end of 2017, the idea being to make the team leaner, quicker and more flexible. At present the group employs approx. 140,000 people all over the world.
From 1st January 2016 ABB is to be made leaner with four instead of five divisions as up to now.