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. 28.95 - Manufacture Of Machinery For Paper And Paperboard Production
200 jobs Number of planned job losses
Announcement Date
12 July 2024
Employment effect (start)
12 July 2024
Foreseen end date
Description
The German mechanical engineering company Illig has announced plans to cut 200 jobs at its headquarters in Heilbronn.
The reason for the job cuts is a new investor, as the job cuts were the prerequisite for the new investor's entry. Illig filed for insolvency in April 2024, and the reason for this was the drop in customer demand.
The company now wants to cut around 200 jobs. It is still unclear which jobs will be cut, but presumably, all areas will be affected. It is also not yet clear when the measure will be completed. Those made redundant will be compensated via a social plan.
Illig produces thermoforming and packaging systems and mould systems for plastics and cardboard.
Eurofound (2024), Illig, Internal restructuring in Germany, factsheet number 201426, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201426.
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