Draka Comteq

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Manufacturing
(24 - 25) Manufacture of metals
25.9 - Manufacture of other fabricated metal products
25.93 - Manufacture of wire products, chain and springs
330 jobs
Number of planned job losses
Job loss
Announcement Date
29 June 2006
Employment effect (start)
Foreseen end date

Description

On 29 June 2006 manufacturer of cables for communication purposes, Draka Comteq, announced to cut 330 jobs throughout Europe. Draka Comteq is a subsidiary of the Draka Holding which is active on a global scale. This reorganisation yields an annual cost reduction of 12 million euro. Analist Maarten Bakker of Fortis (banking, financial services) is not surprised by the announcement: ‘These restructuring plans fit well in Draka’s strategy. In the long run more of these adjustments are to be expected’.

Draka employs 8500 people worldwide.

Sources

  • 30 June 2006: Het Financieele Dagblad

Citation

Eurofound (2006), Draka Comteq, Internal restructuring in European Union, factsheet number 63773, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63773.