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.
Following drastic changes in the medical markets, there has been a considerable slump in Hartmann Group sales and earnings. In addition to cost-cutting measures with regard to costs of materials, some 600 jobs worldwide are to be axed by the end of 2006, counting for 6.3 % of overall staff levels (9,500 employees worldwide). The company has already revised its strategy and re-structured its organization, resulting in leaner Group and management structures, and therefore enhanced efficiency. In addition to concentrating on their core medical business, channelling resources to address European growth markets as well as adhering to a stringent client focus, the company wants to reduce operating costs.
The staff cuts, as discussed by the Supervisory Board on 2 December 2 2004, affect the entire Hartmann Group, including its subsidiaries both inside and outside Germany. Some 500 jobs will be affected in the German divisions, around 120 of these at the head office in Heidenheim/Herbrechtingen. There, the company will be pruning staff at all levels, in particular in the Group Head Office overhead functions. On 3 December 2004, the management started negotiations with employee representatives. The company will do its utmost to come to amicable agreements but cannot rule out operationally-necessitated redundancies.
Eurofound (2004), Hartmann Group, Internal restructuring in World, factsheet number 60890, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60890.