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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
250 jobs Number of planned job losses
Announcement Date
5 December 2008
Employment effect (start)
5 December 2008
Foreseen end date
31 March 2010
Description
On 5 December 2008, the producer of automotive components Rheinmetall announced to cut 250 jobs at its German sites. The job cuts are part of a restructuring programme set up to reduce operation costs by € 50 million. Job cuts are to be implemented by the beginning of 2010. Hit by the financial crisis and a drop in orders, the company additionally prolonged its company holidays over Christmas. Furthermore, reduced hours will be worked at its production sites in the first half-year of 2009. Rheinmetall currently employs 11,800 staff.
Sources
6 December 2008: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2008), Rheinmetall, Internal restructuring in Germany, factsheet number 67613, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67613.
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