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.
1,000 jobs Number of planned job losses
Announcement Date
1 November 2009
Employment effect (start)
1 November 2009
Foreseen end date
Description
On 1 November 2009, the technology group Gea announced a further loss of up to 1,000 jobs worldwide. Job cuts are part of a restructuring programme, which will reorganise Gea's business segments by 1 January 2009. The job cuts will mostly affect employees in the thermal engineering segment. The company seeks to realise annual savings of over 65 million EUR from 2012 onward from the programme. The announcement follows Gea's notice given in March that some 2,000 jobs were to be shed by the end of the year. (see factsheet 68512). The company specialises in mechanical engineering and employees about 20,000 worldwide.
Sources
2 November 2009: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2009), Gea, Internal restructuring in World, factsheet number 69806, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69806.
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