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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
330 jobs Number of planned job losses
Announcement Date
1 March 2018
Employment effect (start)
1 March 2018
Foreseen end date
31 December 2019
Description
On 1 March 2018, the German automotive supplier Kostal announced it will cut 330 jobs in Lüdenscheid, Meinerzhagen and Halver by the end of 2019. According to Kostal, its large scale production is not competitive anymore, making cuts inevitable. Production will be relocated to cheaper sites abroad. Kostal will try to make the job reduction as socially acceptable as possible and will try to negotiate the implementation of a qualification and transfer company.
Kostal has approximately 2,500 employees at Lüdenscheid, Meinerzhagen and Halver.
Sources
2 March 2018: WDR (online)
2 March 2018: guten-tach.de
Citation
Eurofound (2018), Kostal, Internal restructuring in Germany, factsheet number 93484, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93484.
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