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
4,900 jobs Number of planned job losses
Announcement Date
27 April 2009
Employment effect (start)
Foreseen end date
31 December 2009
Description
On 27 April 2009, the automotive supplier Mahle announced to cut around 4,900 jobs worldwide by the end of 2009. The cuts will mostly affect Northern and Southern America where 2,000 jobs are to be lost, Mahle is to close its production sites in Buenos Aires (now employing 470 workers) and in Alzenau in Germany (now employing 424 workers).
Mahle suffers from a dramatic decline in sales. Furthermore, Mahle's profits shrunk due to the increase of interest expenses and the accrual requirements for currency and raw materials.
Sources
28 April 2009: Handelsblatt
Citation
Eurofound (2009), Mahle, Internal restructuring in World, factsheet number 68832, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68832.
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