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 Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
300 - 500 jobs Number of planned job losses
Announcement Date
20 March 2005
Employment effect (start)
1 April 2005
Foreseen end date
31 December 2007
Description
Although Linde, the chemicals and engineering group, met in 2004 the targets that were only supposed to be reached in 2005, the future of its material handling division is uncertain.. Full details of the savings programme for the divisions will be revealed on 4 May 2005. The material handling division is made up of three subsidiaries, Linde Fahrzeuge, OM and Still. The division has already undergone a cost-cutting programme, but was further hit in 2004 by rising steel prices and the weak dollar. the loss of around 200 jobs in Hamburg (where 2,000 staff are employed) is now being negotiating and between 100 and 300 jobs are under review in Reutlingen, where it employs 550 people. It is not yet clear whether involuntary redundancies will come into play and details of the job losses are currently being negotiated with the staff council. Wolfgang Reitzle, Linde head, announced a further cost-cutting programme, mentioning job losses for the forklift truck division.
Sources
20 March 2005: Frankfurter Allgemeine Zeitung
20 March 2005: Financial Times Deutschland
Citation
Eurofound (2005), Still, Internal restructuring in Germany, factsheet number 61327, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61327.
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