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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
150 jobs Number of planned job losses
Announcement Date
3 September 2004
Employment effect (start)
Foreseen end date
31 December 2004
Description
Gamma said it would reduce the number of its employees in Helmond, southern Netherlands, to 450 (600 people are currently employed in Helmond). This announcement comes together with the shedding of 230 employees in Ivory Coast. The job cuts In Ivory Coast are explained by lower sales from Exotic Fabrics division in Africa. The main reasons for the drop in sales were a fall in power, the worsened political and economic situation in Ivory Coast and Nigeria as well as the import restrictions in the country.
The job cuts in Helmond will concern mainly the production staff, chief executive officer Meint Veninga said. He didn't reveal the value of the restructuring costs which are included in the company's profit forecast for 2004. Gamma has 9,353 employees in 35 countries.
Sources
3 September 2004: Betten Beursmedia News
3 September 2004: Het Financieele Dagblad
3 September 2004: Eindhovens Dagblad
Citation
Eurofound (2004), Gamma Holding, Internal restructuring in Netherlands, factsheet number 60552, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60552.
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