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 Electrical Equipment 27 - Manufacture of electrical equipment
330 jobs Number of planned job losses
Announcement Date
30 August 2005
Employment effect (start)
Foreseen end date
Description
Dutch cable manufacturer Draka Holding will cut 330 jobs. The company will close a factory in British Leeds and will reduce its personnel in the Netherlands and the rest of Europe. The restructuring will concern the company's Cableteq division, which comprises all low-voltage and special-purpose cable activities. The restructuring is expected to result in annual cost savings of some €15 million. The restructuring is part of a package of measures, aimed to increase the company operating margin to some 5% in 2007.
Sources
30 August 2005: De Financiële Telegraaf
Citation
Eurofound (2005), Draka Holding, Internal restructuring in European Union, factsheet number 62373, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62373.
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