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The company said on Wednesday evening it wanted to reduce its "fixed cost base" and that it will "will work with its social partners to limit the impact by utilising all available social measures".

They also say the new monthly fee would allow them to more evenly allocate fixed costs among customers.

School officials have said that inflation and fixed costs like heating were taking a toll on their budgets and in some cases forcing program cuts or requiring increased class sizes.

He said American corporations have largely abandoned traditional pensions, which creates a fixed cost that cannot be reduced and becomes a burden in a business downturn.

The company, in the midst of a strategy shift to slash fixed costs and improve productivity, confirmed preliminary third-quarter results released on Friday that cut its profit margin guidance for this year, disappointing investors.