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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
200 - 1,000 jobs Number of planned job losses
Announcement Date
22 June 2009
Employment effect (start)
22 June 2009
Foreseen end date
1 December 2009
Description
The High Tech Industries (HTI) holding company plans to cut its workforce across its Austrian sites by around 200 to 1,000 by December 2009. The planned redundancies are part of a larger restructuring programme which affects virtually all of its European production sites.
The company which is quoted at the Vienna Stock Exchange thus continues to realise a restructuring programme initiated in 2008. Accordingly, the company aims at a concentration of production sites, large-scale redundancies and the strengthening of existing partnerships with the automotive industry as well as a new focus on mechanical engineering, in particular in the field of power technologies. In 2008, the whole HTI concern had to face losses of € 40 million.
Eurofound (2009), HTI, Internal restructuring in Austria, factsheet number 69187, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69187.
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