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 29.3 - Manufacture of parts and accessories for motor vehicles
500 jobs Number of planned job losses
Announcement Date
24 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
31 December 2009
Description
MTU Friedrichshafen, a manufacturer of large diesel engines for ships and trains belonging to DaimlerChrysler, has announced that it is to cut 500 jobs. The remaining employees will loose parts of their christmas gratification or work 70 hours more per year. The measures are part of a cost-cutting programme that will save €154 million until the end of 2006. There will be no direct dismissals.
Sources
24 June 2005: Financial Times Deutschland
Citation
Eurofound (2005), MTU Friedrichshafen, Internal restructuring in Germany, factsheet number 61794, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61794.
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