Type
Internal restructuring
Country
Germany
Region
Hessen; Kassel; Werra-Meißner-Kreis
Location of affected unit(s)
Eschwege
Sector
Manufacturing
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.3 - Manufacture of parts and accessories for motor vehicles

220 jobs
Number of planned job losses
Job loss
Announcement Date
9 December 2008
Employment effect (start)
Foreseen end date

Description

On 9 December 2008, the manufacturer of pumps, compressors and cylinders Hyco announced to cut around 220 jobs at its site in Eschwege. The job cuts are attributed  to the global financial crisis resulting in a severe drop in orders. The company operate six production sites worldwide at which 1,300 staff is employed.


Sources

  • 9 December 2008: Handelsblatt

Citation

Eurofound (2008), Hyco, Internal restructuring in Germany, factsheet number 67617, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67617.