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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
430 jobs Number of planned job losses
Announcement Date
24 March 2009
Employment effect (start)
24 March 2009
Foreseen end date
Description
On 24 March 2009, the producer of car components Leoni announced to cut around 430 jobs in Germany. Half of the cuts will affect workers on fixed-term contracts. The cuts are blamed on the severe slump in demand. The company's sales declined by 40% in the first quarter of 2009. The company employs around 4,300 employees in Germany (46,000 staff worldwide).
As of 3 April 2009, there is no information on when and where exactly the job losses will occur.
Sources
25 March 2009: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2009), Leoni, Internal restructuring in Germany, factsheet number 68649, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68649.
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