Icelandic processing equipment firm Marel has made a “difficult decision” to reduce its global workforce by 5 percent to improve operational performance.
Despite preliminary and unaudited financial results for the second-quarter 2022 showing a new record in terms of orders received as well as increased revenue, Marel said its operational performance is “below expectations,” resulting in a preliminary EBIT margin of 6.3 percent in the quarter versus Q2 2021’s 11.8 percent …
