The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
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
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.
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