Maxcom

Type
Internal restructuring
Country
Bulgaria
Region
Yugozapadna i Yuzhna tsentralna Bulgaria; Yuzhen tsentralen; Plovdiv
Location of affected unit(s)
Plovdiv
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
30.9 - Manufacture of transport equipment n.e.c.
30.92 - Manufacture of bicycles and invalid carriages
180 jobs
Number of planned job losses
Job loss
Announcement Date
19 December 2023
Employment effect (start)
19 December 2023
Foreseen end date
31 December 2023

Description

Maxcom Ltd, the Bulgarian subsidiary of the bicycle manufacturer Maxeurope, announced the dismissal of 22% (180 persons) of its personnel in Plovdiv’s factory. The explanation given is the global recession caused by the Covid-19 pandemic, which has crippled the German economy on a large scale on which Maxcom’s relies.

Maxcom Ltd. is among the largest bicycle manufacturers in Bulgaria and Eastern Europe. Company’s production capacity is over 400 000 bicycles per year and 95% of the company's production is exported to EU countries.

Sources

Citation

Eurofound (2023), Maxcom, Internal restructuring in Bulgaria, factsheet number 200645, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200645.