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 49.4 - Freight transport by road and removal services
280 jobs Number of planned job losses
Announcement Date
14 May 2008
Employment effect (start)
14 May 2008
Foreseen end date
Description
Rico, a freight and transport logistics company based in Germany, has announced insolvency with a total loss of 280 jobs. The company employs 350 people in total and is to retain 70 employees to carry out some orders from large client companies. 50 employees will carry out the orders and 20 will remain for administrative responsibilities.
The parent company is active in Germany and Eastern Europe and employs 3000 employees in total, with 1000 in Sachsen Anhalt (500 in the head office), and 2000 in a daughter company in Poland.
Sources
14 May 2008: Nordwest Zeitung
Citation
Eurofound (2008), RiCoe, Internal restructuring in Germany, factsheet number 68126, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68126.
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