Cynora

Type
Closure
Country
Germany
Region
Baden-Württemberg; Karlsruhe; Karlsruhe, Landkreis
Location of affected unit(s)
Bruchsal
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
100 - 120 jobs
Number of planned job losses
Job loss
Announcement Date
1 July 2022
Employment effect (start)
1 July 2022
Foreseen end date

Description

Cynora, a German startup and developer of smartphone displays, has announced around 100 job cuts at its site in Bruchsal, Baden-Wuertemberg, Germany.

According to Cynora, all employees will be laid off as the company has sold all patents. Cynora specialised in the development of OLED displays. Cynora had problems raising financial capital due to the global economic situation and the pandemic, as investors were very cautious. As of July 2022, it is unknown when the job losses will be implemented by.

Cynora was founded in 2012.

Sources

  • 1 July 2022: SWR (Online) (www.swr.de)
  • 30 June 2022: Badische Neueste Nachrichten (online) (bnn.de)
  • 6 July 2022: PC Welt (online) (www.pcwelt.de)

Citation

Eurofound (2022), Cynora, Closure in Germany, factsheet number 107089, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107089.