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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
130 jobs Number of planned job losses
Announcement Date
22 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
31 December 2006
Description
Producer of vacuum pumps Leybold vacuum will cut 130 jobs until the end of 2006 in an effort to reduce costs and come closer to an operating margin of 10 percent. A significant part of the losses will come through direct dismissals. For an employment guarantee until 2010, employees will have to work 2.5 hours more per week without extra pay. The weekly working time will thus go up from 35 to 37,5 hours.
Sources
23 June 2005: Kölner Stadtanzeiger
Citation
Eurofound (2005), Leybold Vacuum, Internal restructuring in Germany, factsheet number 61898, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61898.
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