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 Other Transport Equipment 30.92 - Manufacture Of Bicycles And Invalid Carriages
180 jobs Number of planned job losses
Announcement Date
19 December 2023
Employment effect (start)
19 December 2023
Foreseen end date
31 December 2023
Description
Maxcom Ltd, the Bulgarian subsidiary of the bicycle manufacturer Maxeurope, announced the dismissal of 22% (180 persons) of its personnel in Plovdiv’s factory. The explanation given is the global recession caused by the Covid-19 pandemic, which has crippled the German economy on a large scale on which Maxcom’s relies.
Maxcom Ltd. is among the largest bicycle manufacturers in Bulgaria and Eastern Europe. Company’s production capacity is over 400 000 bicycles per year and 95% of the company's production is exported to EU countries.
Eurofound (2023), Maxcom, Other in Bulgaria, factsheet number 200645, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200645.
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