Type
Internal restructuring
Country
Germany
Region
Rheinland-Pfalz; Koblenz; Ahrweiler
Location of affected unit(s)
Adenau
Sector
Arts / Entertainment
Sport, Amusement And Recreation
Sports Activities And Amusement And Recreation Activities
93.11 - Operation of sports facilities

92 jobs
Number of planned job losses
Job loss
Announcement Date
13 January 2012
Employment effect (start)
12 December 2011
Foreseen end date

Description

In mid-January 2012, the German race track Nuerburgring announced to cut 92 out of 338 jobs. The job cuts affect permanent staff as well as employees on fixed-term contracts, which will not be renewed

As it became already known in December 2011, the company is at stake due to shortage of visitors and high fixed costs to maintain the facilities.


Sources

  • 13 January 2012: NAG
  • 12 December 2011: Handelsblatt

Citation

Eurofound (2012), Nürburgring, Internal restructuring in Germany, factsheet number 72876, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72876.