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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
125 - 162 jobs Number of planned job losses
Announcement Date
29 January 2016
Employment effect (start)
29 January 2016
Foreseen end date
29 February 2016
Description
After finalising insolvency proceedings, the new management of the mechanical engineering group Hymmen announced to take over 170 out of 332 employees. Approximately 60 employees have the opportunity to move to a transition company and 37 apprentices will terminate their apprenticeship in the new company or in another firm located in the same city. The remaining employees will be dismissed.
Hymmen, headquartered in Bielfeld, was forced to declare bankruptcy in December 2015.
Sources
29 January 2016: Neue Westfälische (online)
Citation
Eurofound (2016), Hymmen, Bankruptcy in Germany, factsheet number 86415, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86415.
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