Ex-Cell-O

Type
Internal restructuring
Country
Germany
Region
Baden-Württemberg; Stuttgart; Göppingen
Location of affected unit(s)
Sector
Manufacturing
(24 - 25) Manufacture of metals
25 - Manufacture of fabricated metal products, except machinery and equipment
25 - Manufacture of fabricated metal products, except machinery and equipment
100 jobs
Number of planned job losses
Job loss
Announcement Date
22 September 2005
Employment effect (start)
1 January 2006
Foreseen end date
30 June 2006

Description

Tool maker Ex-Cell-O is planning a 20 % reduction of its workforce. Restructuring is to begin at the start of 2006. A spokesman for the mother company IWKA said that Ex-Cell-O was suffering from overcapacity and shrinking margins. Sueddeutsche Zeitung reports that IWKA is planning to sell its daughter company and that the measures were intended as a preparation for the sale.

Sources

  • 23 September 2005: Sueddeutsche Zeitung

Citation

Eurofound (2005), Ex-Cell-O, Internal restructuring in Germany, factsheet number 62320, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62320.