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Business

Germany's MAN Plans Further Layoffs

German machine and truck-maker MAN said on Tuesday it would cut an additional 1,000 jobs in the coming year. This year alone, the Munich-based company has eliminated 6,000 temporary positions. MAN has suffered under heavy losses from its MAN Roland printer-manufacturing division, which is reeling from the effects of the ailing newspaper industry and reported a loss for the third quarter. The company has also reduced its earnings forecast for the year. MAN now says earnings will remain at last year's level of approximately 213 million euros ($215.5 million).