Kloeckner

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Wholesale / Retail
46 - Wholesale trade
46.1 - Wholesale on a fee or contract basis
46.12 - Activities of agents involved in the wholesale of fuels, ores, metals and industrial chemicals
200 jobs
Number of planned job losses
Job loss
Announcement Date
19 March 2010
Employment effect (start)
19 March 2010
Foreseen end date

Description

On 19 March 2010, Kloeckner, an historic metal distributor, announced it will cut 200 jobs having suffered a loss of €200 million in 2009. CEO Roland Flach added that further job cuts are not under consideration though 700 employees are currently working short-time. In 2009, Kloeckner decided to close five sites and reduced the total number of employees by around 330 to 6,000. The new closures are expected to be finalised in summer 2010.

Sources

Citation

Eurofound (2010), Kloeckner, Internal restructuring in Germany, factsheet number 70342, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70342.