Otis Elevators Co.

Type
Internal restructuring
Country
Germany
Region
Berlin; Berlin; Berlin
Location of affected unit(s)
Berlin
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28 - Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
230 jobs
Number of planned job losses
Job loss
Announcement Date
17 November 2005
Employment effect (start)
1 December 2005
Foreseen end date
31 December 2006

Description

Otis, a producer of lifts and escalators belonging to American United Technologies Corporation, will cut up to 230 jobs in several departments across Germany. Otis-manager Frühbauer said that the bad economic situation in Germany and strong competition were the reasons for the cuts. Employees' representatives criticised the move, as the company still makes healthy profits.

Sources

  • 18 November 2005: Berliner Morgenpost

Citation

Eurofound (2005), Otis Elevators Co., Internal restructuring in Germany, factsheet number 62544, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62544.