By Sarah Sloat

MAN Truck & Bus SE has decided on a package of measures aimed at improving earnings by up to 1.7 billion euros ($2 billion), including the reduction of its German workforce by about 3,500 jobs, the company said Tuesday.

The measures were agreed upon by employee representatives and management at MAN Truck & Bus, part of Volkswagen AG's Traton SE unit.

The agreement clears the way for a realignment at MAN, the company said. The commercial-vehicle manufacturer plans to reorganize in response to the industry's transformation, addressing the challenges of carbon-free mobility, digitalization and automation.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

03-30-21 0248ET