Restructuring events
European Restructuring Monitor (ERM)
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.
On 19 July 2010, the German manufacturer of printing machines Heideldruck announced to cut 500 jobs worldwide. In March 2010, Heideldruck had initally stated to cut up to 850 jobs. However, management and works' council agreed on a package of measures which will save costs. Whilst no details on the location of the affected sites were so far published, the restructuring programme is to take effect from 1 April 2010 and is to be completed by the end of October 2010. As of 30 June 2008, Heideldruck employed 19,737 employees worldwide.
It is the second wave of dismissals, after the company had announced a restructuring programme a year ago when Heideldruck cut 3,000 jobs in Germany (5,000 worldwide). The company was the first to receive public guarantees from the steering council of the German 'Economy Fund' (see factsheet 13683).
The German authorities applied for aid from the European Globalisation Adjustment Fund (EGF) and it is currently being implemented.
Eurofound (2010), Heidelberger Druckmaschinen (Heideldruck), Internal restructuring in World, factsheet number 70365, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70365.