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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
700 jobs Number of planned job losses
Announcement Date
22 May 2009
Employment effect (start)
Foreseen end date
Description
König & Bauer, a manufacturer of printing presses, is to cut 700 jobs. 650 employees at Radebeul in Saxony will be affected by direct dismissal. Management and works council agreed on the direct dismissal in trade off for a job guarantee covering the remaining 1400 Radebeul workers until the end of the business year 2011. There is no information on the remaining 50 job cuts. König & Bauer says it is solvent, but is currently hit by a sharp decrease of orders.
Sources
22 May 2009: Financial Times Deutschland
Citation
Eurofound (2009), Koenig & Bauer, Internal restructuring in Germany, factsheet number 68946, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68946.
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