Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Hamburg, Berlin, Hannover and Bamberg
Sector
Retail
Wholesale Trade, Except Of Motor Vehicles And Motorcycles
Other Specialised Wholesale
46.72 - Wholesale of metals and metal ores

360 jobs
Number of planned job losses
Job loss
Announcement Date
2 December 2005
Employment effect (start)
1 January 2006
Foreseen end date
30 June 2006

Description

Klöckner & Co, a steel trader belonging to private equity fund Lindsay Goldberg Bessemer, will close four offices in Germany, thereby shedding 360 jobs. Hamburg, Berlin, Hannover and Bamberg were not profitable, a spokesperson said. A redundancy programme will be worked out for the affected employees.


Sources

Citation

Eurofound (2005), Klöckner & Co, Internal restructuring in Germany, factsheet number 62703, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62703.