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 Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
100 jobs Number of planned job losses
Announcement Date
19 November 2014
Employment effect (start)
19 November 2014
Foreseen end date
Description
German chemical company Hansa Group is to dismiss 100 people. Hansa Group has recently been acquired by Swiss Gemini Holding.
According to management and works council, the restructuring is the only way to assure the company’s future. In return, Gemini guaranteed to maintain production at several plants for two years and also excluded operational dismissals during that period. However, staff will have to accept a wage reduction of 10 pc and no pay increase during the next five years.
After the restructuring, 400 employees will remain at Hansa Group.
Sources
19 November 2014: Westfälische Nachrichten
Citation
Eurofound (2014), Hansa Group, Merger/Acquisition in Germany, factsheet number 77879, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77879.
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