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 Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
2,450 - 2,700 jobs Number of planned job losses
Announcement Date
1 April 2009
Employment effect (start)
1 April 2009
Foreseen end date
Description
On 1 April 2009, the insolvent chip producer Qimonda announced the reassignment of around 2500 employees to a transfer agency. Qimonda had filed for insolvency on 23 January 2009 after a finance package promised by several investors, amongst them Qimonda's parent company Infineon and the state government of Saxony, did not come through.
The insolvency proceedings were opened on 1 April 2009. On the same date, around 600 employees in Munich and another 1,850 employees in Dresden agreed to join a transfer agency. Depending on their marital status, those employees received between 70% and 77% of their former net wage. These payments were to end by mid-August 2009. Since summer 2009, several parts of Qimonda were sold to other investors. The insolvency administrator was, however, still looking for further investors in summer 2009. On 16 June 2009, Qimonda released a press statement announcing that a core team of 226 employee in Munich and 240 employees in Dresden would keep up production. At that time, the company stated that around 2,700 employees were reassigned to the transfer agency.
Sources
24 March 2009: manager magazin
Citation
Eurofound (2009), Qimonda, Bankruptcy in Germany, factsheet number 69976, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69976.
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