REDUCTION OF WORKFORCE. Terex acknowledges that Terex and Demag Cranes have complementary businesses with virtually no overlap. Against this background, other than the functions referred to in Section 3.6, Terex undertakes not to cause Demag Cranes to reduce the current workforce of Demag Cranes AG and/or any Demag Cranes Affiliate in Germany as a direct result of the Transaction and does not anticipate any termination for enforced redundancies (betriebsbedingte Kündigung) of employees of Demag Cranes AG or any Demag Cranes Affiliate as a direct result of the Transaction.
Appears in 2 contracts
Sources: Business Combination Agreement, Business Combination Agreement (Terex Corp)