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.
Transportation / Storage Land, Water And Air Transportation Land Transport And Transport Via Pipelines 49 - Land transport and transport via pipelines
500 jobs Number of planned job losses
Announcement Date
6 February 2008
Employment effect (start)
Foreseen end date
Description
Fiege, the Germany based international logistics group, announced on 6 February 2008, that it is to cut 500 jobs by closing the road transport network in Germany acquired in 2006 from the former Hamburg based TTS group. About half of employees who will be redundant are lorry drivers. The company already agreed with the group works council on a social plan. The reason given by the company was that the road transport business had not proved to be profitable enough. The company stated that it aimed at carrying out the restructuring programme in a 'socially acceptable manner'. As of February 2008, there is no information on the number employed and when the job losses will be implemented.
Sources
6 February 2008: Handelsblatt
Citation
Eurofound (2008), Fiege, Internal restructuring in Germany, factsheet number 66282, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66282.
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