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 Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
220 jobs Number of planned job losses
Announcement Date
10 November 2010
Employment effect (start)
10 November 2010
Foreseen end date
Description
On 10 November 2010, the pharmaceutical company Gruenenthal announced to cut 220 jobs in Germany. This means that every tenth job is affected in Germany. The job cuts are part of a cost saving and restructuring programme. From 2013 onwards, the company seeks to save 57 million euros annually. Gruenenthal intends to invest greater sums into its research and development activities and expand in the Northern and Latin American markets. Gruenenthal currently employs around 5,000 employees worldwide.
Sources
10 November 2010: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2010), Gruenenthal, Internal restructuring in Germany, factsheet number 71171, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71171.
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