Kostal

Type
Internal restructuring
Country
Ireland
Region
Ireland;
Location of affected unit(s)
Cork, Limerick
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
300 jobs
Number of planned job losses
Job loss
Announcement Date
16 January 2009
Employment effect (start)
Foreseen end date
31 March 2009

Description

Car component manufacturer Kostal, has announced 300 voluntary redundancies at two Irish manufacturing plants in Limerick (200) and Mallow in County Cork (100). The German-owned company currently employs 1,100 people in the two plants but is seeking cuts as part of an internal restructuring plan. The company has attributed the redundancies to the global economic crisis facing the car industry. However, the company has said that the restructuring was aimed at maintaining a continued competitive presence in Ireland. Kostal's main customers include Mercedes Benz, BMW, Volkswagen, General Motors, Ford, Volvo, Nissan and Toyota.

Sources

  • 17 January 2009: The Irish Times

Citation

Eurofound (2009), Kostal, Internal restructuring in Ireland, factsheet number 67853, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67853.