Harman

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.9 - Manufacture of other electrical equipment
27.90 - Manufacture of other electrical equipment
500 - 1,000 jobs
Number of planned job losses
Job loss
Announcement Date
31 January 2013
Employment effect (start)
Foreseen end date
31 December 2014

Description

Harman, maker of high-end stereo and audio equipment, has announced its plans to cut up to 1,000 positions as part of internal restructuring measures in an attempt to reduce costs.

The company is planning to reduce its workforce by around 500 employees in high cost countries by 2014. In addition to these job cutting measures, the company is currently evaluating the sale or closure of one of its manufacturing sites in Europe, which in turn would lead to an additional job reduction of around 500 posts.

The company currently has a workforce of about 13,400 working across the Americas, Europe and Asia.

Sources

  • 31 January 2013: Market Watch
  • 31 January 2013: Harman (press release)
  • 31 January 2013: Twice

Citation

Eurofound (2013), Harman, Internal restructuring in World, factsheet number 74881, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74881.