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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23 - Manufacture of other non-metallic mineral products
600 - 800 jobs Number of planned job losses
Announcement Date
17 March 2009
Employment effect (start)
17 March 2009
Foreseen end date
31 December 2009
Description
Wienerberger, one of the world's largest building materials producers, is about to close a further 20 of its more than 200 plants in Europe and the USA, with the loss of between 600 and 800 jobs in total. Thus, the company continues its restructuring programme started in 2008, when 27 plants were closed down. The traditional Austria-based enterprise, which specializes in the manufacture of bricks and clay roof tiles and which is traded on the Vienna Stock Exchange, has still to cope with dropping turnover and profits, mainly as a result of the global economic downturn. The further restructuring was announced on 17 March 2009 by the management board. The short-term aim is to secure the group's free cash-flow and liquidity. The closure and lay-offs will affect both Europe and the USA and come into effect in the course of 2009.
Sources
17 March 2009: Der Standard ()
Citation
Eurofound (2009), Wienerberger, Internal restructuring in World, factsheet number 68592, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68592.
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