Epcos

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Heidenheim, Munich
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
300 - 450 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2005
Employment effect (start)
1 January 2006
Foreseen end date
31 December 2008

Description

Epcos, a supplier of computer hardware, has announced that it will cut between 300 and 450 jobs in Germany over the coming 3 years. Epcos has posted a loss of €119 million in 2004. Reason for the losses and the following cost-cutting measure is is the dramatic price war in the computer sector, said Epcos' chairman. The jobs will be cut in Heidenheim (Baden-Würtemberg) and Munich (Bavaria).

Sources

Citation

Eurofound (2005), Epcos, Internal restructuring in Germany, factsheet number 62545, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62545.