Feintool

Type
Closure
Country
Germany
Region
Baden-Württemberg;
Location of affected unit(s)
Sachsenheim, Vaihingen
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.2 - Manufacture of bodies and coachwork for motor vehicles; manufacture of trailers and semi-trailers
29.2 - Manufacture of bodies and coachwork for motor vehicles; manufacture of trailers and semi-trailers
200 jobs
Number of planned job losses
Job loss
Announcement Date
3 December 2024
Employment effect (start)
Foreseen end date
31 December 2027

Description

Swiss automotive supplier Feintool is to cut 200 out of the 450 jobs at its German sites in Sachsenheim and Vaihingen. The job cuts are to be fully realised by 2027.

At the affected German sites, the company produces metal parts for the automotive industry. As demand for its products is falling, Feintool is moving parts of its German production to Hungary whilst also reshaping the German location.

Whilst the plant in Sachsenheim will be closed down by 2027, some of the employees might be offered jobs in Vaihingen where production will be continued. Talks on the details of this move are still ongoing, but the company stated that it seeks "socially acceptable" solutions for realising job cuts.

Sources

Citation

Eurofound (2024), Feintool, Closure in Germany, factsheet number 202157, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202157.