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 Furniture And Other Manufacturing Other Manufacturing 32.4 - Manufacture of games and toys
123 jobs Number of planned job losses
Announcement Date
28 June 2006
Employment effect (start)
Foreseen end date
31 July 2006
Description
On 28 June 2006, Nici, the manufacturer of the World Cup 2006 mascot Goleo, announced to cut 123 jobs. In May 2006, Nici had to file for insolvency. Its former chair had faked the income statement of the establishment for years and thereby generated a paper profit of EUR 155 million in 2005. Against the background of the application for insolvency, the reduction of jobs is part of an internal restructuring program to safeguard the future financial solvency of the establishment.
Sources
28 June 2006: Handelsblatt
29 June 2006: Financial Times Deutschland
Citation
Eurofound (2006), Nici, Internal restructuring in Germany, factsheet number 63719, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63719.
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