Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacturing Of Machinery And Equipment
Manufacture Of Machinery And Equipment N.E.C.
28 - Manufacture of machinery and equipment n.e.c.

5,000 jobs
Number of planned job losses
Job loss
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 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 European Union, factsheet number 68948, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68948.