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.
3,000 jobs Number of planned job losses
Announcement Date
22 May 2009
Employment effect (start)
Foreseen end date
Description
Heideldruck, the leading German manufacturer of printing machines, is the first Germany company to receive public guarantees from the steering council of the German 'Economy Fund', the fund for large company cases set up as part of the national economic stimulus packages. Management and works council have started to work on a restructuring plan that currently includes the cutting of 5000 jobs. Out of these 3000 jobs shall be shed in Germany In production about a 20 per cent of all jobs in production shall be cut; about a quarter or one third of all administrative jobs are planned to be axed. Currently, the company employs a total of 20000 persons. There is no precise timeline yet.
Sources
22 May 2009: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2009), Heideldruck, Internal restructuring in Germany, factsheet number 68947, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68947.
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