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.
European Globalisation Fund (EGF)
Year: 2010, Case number: 18
4,000 jobs Number of planned job losses
Announcement Date
8 October 2009
Employment effect (start)
Foreseen end date
Description
On October 8, print machine manufacturer Heidelberger Druckmaschinen announced the dismissal of 4,000 workers. The plan is a revision of an earlier announcement of 5,000 redundancies.
In 2008, Heidelberger Druckmaschinen, the leading manufacturer of printing machines, announced a restructuring progamme to save EUR 400 million by 2010/2011. The plan was said to involve the elimination of up to 5,000 global jobs (including 3,000 jobs in Germany).
On 8 October 2009, results of an agreements settled by management, works council and the metalworkers' union IG Metall became known. The 2008 cost saving programme is to stay, but 4,000 instead of 5,000 jobs will be cut. Management said that about planned 1,000 job cuts are compensated by reductions in agreed pay schemes and by flexibilized working time arrangements.
A social plan covers about 1,300 workers in Germany who may transfer to a job creation agency starting 1 March 2010. Another 200 workers are said to leave their jobs voluntarily. In total, about 2,800 jobs are cut in Germany. The remaining 1,200 jobs are located in distribution and service centres around the world (no precise information). Heidel Druck has been cutting jobs since the beginning of this year.
On 12 October 2009, negotiations concerning a merger of Heidelberger Druckmaschinen and Manroland failed. The plans were first pushed by Allianz Capital Partners, a German private equity of insurer Allianz holding 65% of Manroland and 12% of Heideldruck. Experts assume that the plans failed because of Heideldruck's business situation.
Sources
13 October 2009: Frankfurter Allgemeine Zeitung
8 October 2009: Handelsblatt
14 October 2009: Handelsblatt
Citation
Eurofound (2009), Heidelberger Druckmaschinen, Internal restructuring in World, factsheet number 69677, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69677.
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