Internal restructuring
Location of affected unit(s)
Professional Services
Professional, Scientific And Technical Activities
Other Professional, Scientific And Technical Activities
74.90 - Other professional, scientific and technical activities n.e.c.

950 jobs
Number of planned job losses
Job loss
Announcement Date
11 December 2014
Employment effect (start)
1 January 2015
Foreseen end date
31 December 2016


German printer of banknotes Giesecke & Devrient (G&D) is to cut around 950 out of 4,000 jobs in Germany by the end of 2016. Most of them will affect the company’s headquarters in Munich where 630 jobs shall be cut and 150 will be relocated as G&D will shut down this location.

The management named overcapacities on the market and a high price pressure as the main reasons for the job reduction. The company’s profit has decreased by 90 pc to €2,6 million in 2013. According to the company’s CEO, the company needs to save costs to secure jobs in the long run.

G&D is a worldwide operating company. The job reduction will not only affect Germany. G&D intends to cut 8 pc out of 12,000 jobs worldwide. Over the past years, G&D implemented several restructurings (see G&D 2009G&D 2013-1G&D 2013-2).


  • 12 December 2014: Süddeutsche Zeitung
  • 12 December 2014: Die Welt Kompakt
  • 11 December 2014: FAZ.NET


Eurofound (2014), Giesecke & Devrient (G&D), Internal restructuring in Germany, factsheet number 77992, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77992.