Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Itzehoe (Schleswig-Holstein) Ahrensburg (Hamburg)
Sector
Manufacturing
Manufacture, Printing And Reproduction Of Recorded Media
Printing And Reproduction Of Recorded Media
18 - Printing and reproduction of recorded media

140 - 150 jobs
Number of planned job losses
Job loss
Announcement Date
11 July 2006
Employment effect (start)
1 October 2006
Foreseen end date
31 December 2009

Description

Prinovis, Europe's largest gravure printing company will decrease its workforce in Germany and will expand its European operations instead. In 2005, Prinovis was founded by the two German leading corporations in printed media Bertelsmann AG and Axel Springer AG (newspaper and printed media corporation) to save printing costs. In July 2006, Prinovis was said to face financial problems. The company made public that it was to cut 110 jobs at its Itzehoe and Ahrensburg plants.

On 28 September 2006 Prinovis announced that job cuts at the two plants will amount to 140-150 jobs within the next three years. There will be a hiring freeze in Germany.

A new plant has recently been established at Liverpool; another plant might by founded at France, the company announced.


Sources

  • 12 July 2006: Handelsblatt
  • 28 September 2006: Handelsblatt

Citation

Eurofound (2006), Prinovis, Internal restructuring in Germany, factsheet number 63784, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63784.