Progress-Werk (PWO)

Type
Internal restructuring
Country
Germany
Region
Baden-Württemberg; Freiburg; Ortenaukreis
Location of affected unit(s)
Oberkirch
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
150 - 200 jobs
Number of planned job losses
Job loss
Announcement Date
6 October 2020
Employment effect (start)
6 October 2020
Foreseen end date

Description

Automotive supplier PWO announced it will cut 150 to 200 jobs at its German sites, such as Oberkirch (Baden-Wurttemberg).  PWO makes lightweight metal components for cars. The company wants to save €12 million in 2021. To realise this goal, the company initiated a voluntary redundancy programme by which it hopes to realise job reductions by the end of 2020. If this was not sufficient, the company already announced there would be dismissals due to operational reasons in 2021. At the end of 2019, PWO employed some 1,500 persons in Germany and around 3,200 people worldwide.

Sources

Citation

Eurofound (2020), Progress-Werk (PWO), Internal restructuring in Germany, factsheet number 102050, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102050.