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 chemicals and pharmaceuticals Manufacture of basic pharmaceutical products and pharmaceutical preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
200 jobs Number of planned job losses
Announcement Date
10 February 2009
Employment effect (start)
Foreseen end date
31 August 2009
Description
On 10 Febuary 2009, German Ratiopharm Group, one of the worldwide leading generics producers, announced to cut 200 jobs in Germany and 400 jobs in other countries. There is no information on which sites will be affected. The group, which has a global workforce of 5,417, employs 2,846 persons in Germany. The job cuts are part of a cost saving programme implemented to save E100 million by 2010.
Most jobs will be axed in administration, but research and development jobs will also be affected. Direct dismissals are to be expected, management says. Management and works council will negotiate a social plan.
Ratiopharm is an affiliate of Merckle Group, which has been facing severe financial problems, and is to be sold to a yet unknown investor. According to management, the cost saving programme is not linked to these prospects.
Sources
11 February 2009: Financial Times Deutschland
11 February 2009: Handelsblatt
Citation
Eurofound (2009), Ratiopharm Group, Internal restructuring in Germany, factsheet number 68136, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68136.
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