Restructuring events
European Restructuring Monitor (ERM)
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.
On 12 November 2014, the German manufacturer of printing machines, Heideldruck, announced a plan to cut between 400 and 500 jobs. There was no information given on the end date of the measure.
The company suffers as a result of digitalization and reduced demand for printing and has already cut 650 jobs this year. The new reduction plans will mainly affect the loss-making core business of manufacturing sheet-fed offset machines.
Management and the works council are negotiating how to implement the restructuring plans. Both parties want to avoid dismissals and wish to generate programmes for leaving on a voluntary basis, by receiving severance payment or by partial retirement.
Heideldruck is a traditional German company which employs around 12,400 people. Prior to the financial crisis of 2008, more than 20,000 people worked at the company.
UPDATE 23/01/2015: As reported by daily newspaper Mannheimer Morgen on 7 January 2015, the job reduction will affect 500 employees in total and shall be implemented by the end of March 2015.
Eurofound (2014), Heideldruck, Internal restructuring in Germany, factsheet number 77852, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77852.