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 Repair And Installation Of Machinery And Equipment Repair And Installation Of Machinery And Equipment 33.2 - Installation of industrial machinery and equipment
450 jobs Number of planned job losses
Announcement Date
6 August 2014
Employment effect (start)
6 August 2014
Foreseen end date
Description
As announced on 6 August 2014, German manufacturer of printing machines Heidelberger Druckmaschinen is to cut 450 jobs in Germany. The company will shut down the site in Leipzig which will make 220 jobs redundant. In addition, 100 are to be cut in Ludwigsburg and 130 jobs in Wiesloch. Operational dismissals are not excluded. The implementation of the job reduction is suspected to take place by the end of the year, a company spokesman however did not confirm the end date. In the future, the company wants to buy processing machines in China instead of producing them on its own.
Heidelberger Druckmaschinen ran losses for five consecutive years with the exception of a small profit in 2013. By cutting 650 jobs worldwide, the management wants to increase profits. Currently, the company employs around 12,500 people in total.
Sources
7 August 2014: Stuttgarter Zeitung
6 August 2014: handelsblatt.com
7 August 2014: FAZ
Citation
Eurofound (2014), Heidelberger Druckmaschinen, Internal restructuring in Germany, factsheet number 77402, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77402.
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