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.
500 jobs Number of planned job losses
Announcement Date
5 August 2009
Employment effect (start)
4 August 2009
Foreseen end date
31 December 2009
Description
On 4 August 2009, the manufacturer of cutting tools Gildemeister announced to cut 500 more jobs than initially planned. Already in March 2009, the company had stated that 500 temporary agency workers were to leave the company, no jobs were offered to their 300 apprentices. In addition, 100 staff holding an open-ended contract and another 200 staff holding a fixed-term contract were to leave the company. The latest news states a further reduction of 500 jobs due to a lasting drop in orders. In June 2009, Gildemeister employed around 6,100 staff.
Sources
5 August 2009: Handelsblatt
Citation
Eurofound (2009), Gildemeister, Internal restructuring in Germany, factsheet number 69370, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69370.
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