Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Computer, Electronic And Optical Products
26.4 - Manufacture of consumer electronics

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

Description

German manufacturer of consumer electronics Loewe will cut 190 jobs. This is mainly due to decreased demand in the European market for consumer electronics.

In total, Loewe employs 1,000 people. Additional measures of restructuring include the lowering of wages, which shall be negotiated with the trade unions.


Sources

  • 14 December 2012: Handelsblatt
  • 13 December 2012: Loewe

Citation

Eurofound (2012), Loewe, Internal restructuring in Germany, factsheet number 74703, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74703.