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.
700 jobs Number of planned job losses
Announcement Date
26 May 2011
Employment effect (start)
Foreseen end date
Description
As announced, printing press manufacturer Koenig & Bauer is considering to cut up to 700 jobs in Frankenthal, Würzburg and Trennfeld. Since the beginning of the global economic crisis, revenues have dropped by half. Management first considered shedding "only" 250 to 300 jobs, but orders of web presses did not increase as expected following the financial crisis. Changing preference towards online media sources and portable computers is acknowledged as the main reason behind the downsizing decision.
Sources
26 May 2011: Sueddeutsche Zeitung
Citation
Eurofound (2011), Koenig & Bauer, Internal restructuring in Germany, factsheet number 72000, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72000.
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