Loewe

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26.4 - Manufacture of consumer electronics
26.40 - Manufacture of consumer electronics
180 jobs
Number of planned job losses
Job loss
Announcement Date
11 March 2013
Employment effect (start)
Foreseen end date
1 April 2013

Description

As announced on March 11, 2013, German manufacturer of consumer electronics Loewe will cut 180 jobs by the end of March. This is due to decreasing sales and severe losses.

The company suffers from strengthening competition, especially from Asia. In total, Loewe employs 1,000 people and the job cuts mainly affects the shop floor. Workers made redundant shall be transferred to an interim employment society for one year.

Sources

  • 12 March 2013: Handelsblatt
  • 11 March 2013: Loewe (Press Release)

Citation

Eurofound (2013), Loewe, Internal restructuring in Germany, factsheet number 75049, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75049.