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
500 jobs Number of planned job losses
Announcement Date
10 July 2008
Employment effect (start)
Foreseen end date
31 December 2011
Description
On 10 July 2008, the manufacturer of printing presses and printing materials Heidelberger Druckmaschinen announced its new package of cost-cutting measures. The company intends to save 100 million euros within the next three years. Therefore, 500 jobs are to be cut wordlwide. More than half of the jobs will be lost at the companies sites in Germany. Parts of its postpress packaging at its site in Mönchengladbach will be offshored to Slovakia. Currently, 240 workers are employed in Mönchengladbach. Job cuts are to be implemented by 2011. Job cuts are still to be negotiated with employee representatives. The company is covered by a so-called agreement on safeguarding the future which runs till 2012. At the end of March 2008, the company employed 19,596 employees worldwide.
Sources
11 July 2008: Handelsblatt
Citation
Eurofound (2008), Heidelberger Druckmaschinen, Internal restructuring in World, factsheet number 66841, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66841.
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