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 Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
120 jobs Number of planned job losses
Announcement Date
7 February 2005
Employment effect (start)
Foreseen end date
Description
Singulus Technologies, the world's leading manufacturer of machinery for production of optical storage media, has announced a cost-saving scheme of more than €5 million for 2005 after orders intake shrank by 43% in the fourth quarter of 2004. Among other measures, the company plans to shed 120 of its 730 jobs. Singulus blames the collapse in orders on the ‘temporary weakness' of the Asian market.
Sources
7 February 2005: VWD News
Citation
Eurofound (2005), Singulus Technologies, Internal restructuring in Germany, factsheet number 61210, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61210.
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