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
500 jobs Number of planned job losses
Announcement Date
12 December 2007
Employment effect (start)
1 January 2008
Foreseen end date
31 December 2008
Description
Conergy, a German multi-national group that produces machinery for solar power generation, has announced that it is to cut 500 jobs internationally. The firm employs 1,480 at international locations, but as of December 2007 there is no specific information on the sites that will be affected by the restructuring. The job cuts will be implemented by the end of 2008. Management at the group have stated that the job cuts are due to the group’s need to reduce costs. According to a member of Conergy’s supervisory board, the group expects to return to profit in 2008.
Sources
13 December 2007: Les Echos
Citation
Eurofound (2007), Conergy, Internal restructuring in World, factsheet number 66108, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66108.
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