ABM Greiffenberger Antriebstechnik

Type
Internal restructuring
Country
Germany
Region
Bayern; Oberfranken; Wunsiedel i. Fichtelgebirge
Location of affected unit(s)
Marktredwitz
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.9 - Manufacture of other special-purpose machinery
28.9 - Manufacture of other special-purpose machinery
100 jobs
Number of planned job losses
Job loss
Announcement Date
25 July 2024
Employment effect (start)
Foreseen end date

Description

The drive technology manufacturer ABM Greiffenberger GmbH has announced that it is to cut 100 jobs in Marktredwitz (Bavaria).

The company explained the reason for the job cuts to be overstaffing, which means that costs are too high compared to competitors. Information on which jobs are affected and by when the job cuts are to be implemented is not yet known. The job cuts are to be implemented through redundancy schemes.

The trade union IG Metall has criticised the announced job cuts and is calling for more orders to be brought in instead of laying off employees to bring staff capacity and the order situation together.

In 2016, 120 jobs were already cut as part of restructuring measuresABM Greiffenberger-2016-DE.

Sources

Citation

Eurofound (2024), ABM Greiffenberger Antriebstechnik, Internal restructuring in Germany, factsheet number 201464, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201464.