Restructuring events
European Restructuring Monitor (ERM)
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.
As announced on 31 January 2024, the German cordless telephone company Gigaset will be cutting 189 jobs in Germany due to internal restructuring.
After filing for insolvency in September 2023, the company was able to advert insolvency by being sold to the electronics company VTech based in Hong Kong for €30 million. While the company was saved, 189 jobs will be cut. 170 of those affected jobs are based at the company’s plant in Bocholt. 80 employees are either on expiring contracts which will not be extended or go into retirement. Another 109 employees will be dismissed. Gigaset CEO Ekerot considers the job reduction to be the only way to secure to company’s future.
After the job reduction, Gigaset will have 437 employees in Germany.
Eurofound (2024), Gigaset, Merger/Acquisition in Germany, factsheet number 200923, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200923.
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