Type
Bankruptcy
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.3 - Manufacture of parts and accessories for motor vehicles

400 jobs
Number of planned job losses
Job loss
Announcement Date
3 April 2009
Employment effect (start)
3 April 2009
Foreseen end date
31 August 2009

Description

On 3 April 2009, AE Group, the manufacturer of car parts, announced to cut 400 out of 1,400 jobs in Germany. Job cuts were considered necessary because short-time work and partial closure of sites were not sufficient to safeguard the future of the company after its move to file for insolvency. AE Group is to be restructured till August 2009.


Sources

  • 4 April 2009: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2009), AE Group, Bankruptcy in Germany, factsheet number 68667, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68667.