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 Basic Pharmaceutical Products And Pharmaceutical Preparations 21.2 - Manufacture of pharmaceutical preparations
500 - 750 jobs Number of planned job losses
Announcement Date
17 November 2021
Employment effect (start)
17 November 2021
Foreseen end date
31 December 2024
Description
The German Pharmaceutical company Fresenius Medical Care announced to cut between 500 to 750 jobs within two to three years at the German headquarter in Bad Homburg as well as in other German sites. The company had informed German employees about its decision in mid-November 2021. However, further details on the redundancy plan are not yet available and will be negotiated with the works' council.
Job cuts are part of the company's cost saving programme. Fresenius Medical Care has been troubled by the pandemic for a long time since many people with chronic kidney disease die of the coronavirus, which reduces the number of treatments the company performs. Already at the beginning of November 2021, parent company Fresenius had announced to restructure business and diminish costs by €500 million by 2025 - leading to 5,000 job cuts worldwide.
Fresenius Medical Care employed over 125,000 employees worldwide in 2020.
Eurofound (2021), Fresenius Medical Care, Internal restructuring in Germany, factsheet number 105853, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105853.
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