Type
Merger/Acquisition
Country
Germany
Region
Location of affected unit(s)
Konstanz
Sector
Manufacturing
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations
21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations

930 jobs
Number of planned job losses
Job loss
Announcement Date
21 March 2007
Employment effect (start)
Foreseen end date
31 December 2010

Description

After the acquisition of Altana Pharma AG, the Danish pharmaceutical company Nycomed announced its new business strategy on 21 March 2007 unveiling that 800 jobs will be cut in Germany and 1,250 worldwide due to synergy effects of the acquisition and improved efficiency. It was said that at the Altana headquarter at Konstanz 200 jobs will be lost at administrative positions; another 600 jobs will be cut in the research and development department. Nycomed announced future negotiations with employee representatives to specify the details of the job cuts. On 2 July 2007 the results of these negotiations were reported. Nycomed and the works council agreed that activity will continue at the units in Konstanz, Barsb├╝ttel and Singen until 2010 but that 930 jobs, instead of 800, will be cut.


Sources

  • 2 July 2007: Frankfurter Allgemeine Zeitung
  • 15 June 2007: Handelsblatt
  • 22 March 2007: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2007), Nycomed, Merger/Acquisition in Germany, factsheet number 65157, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65157.