The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.95 - Manufacture of machinery for paper and paperboard production
2,000 jobs Number of planned job losses
Announcement Date
17 March 2020
Employment effect (start)
17 March 2020
Foreseen end date
Description
German printing machine manufacturer Heidelberger Druckmaschinen (Heideldruck) will be cutting up to 2,000 jobs worldwide due to an internal restructuring. According to the management, the production of unprofitable machines will be ceased and the company intends to reduce its net debts through refinancing. Works council and the German Metalworkers’ Union are supporting the restructuring, as both believe that it will secure the company’s future in the market for digital industry . Details regarding the distribution of cuts as well a social plan have yet to be discussed. However, it is expected that Heideldruck will be closing smaller plants because of a dismissal protection agreement in place, until 2022, at its headquarter (5,000 employees) in Heidelberg.
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