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 (12) Manufacture of tobacco products 12 - Manufacture of tobacco products 12 - Manufacture of tobacco products
470 jobs Number of planned job losses
Announcement Date
18 November 2003
Employment effect (start)
1 May 2002
Foreseen end date
1 November 2003
Description
Since the acquisition of the German company Reemtsma by Imperial Tobacco, 1,500 jobs have been supressed worlwide last year, from which 470 have been lost in Germany. This was announced in the provisionnal annual report for the year 2003. The integration is happening successfully and quickly and the turnover grew from £8,28 billions to £11,41 billions.
Sources
18 November 2003: Financial Times Deutschland
Citation
Eurofound (2003), Imperial Tobacco, Merger/Acquisition in Germany, factsheet number 59714, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59714.
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