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 Electrical Equipment 27.90 - Manufacture of other electrical equipment
500 - 1,000 jobs Number of planned job losses
Announcement Date
31 January 2013
Employment effect (start)
Foreseen end date
31 December 2014
Description
Harman, maker of high-end stereo and audio equipment, has announced its plans to cut up to 1,000 positions as part of internal restructuring measures in an attempt to reduce costs.
The company is planning to reduce its workforce by around 500 employees in high cost countries by 2014. In addition to these job cutting measures, the company is currently evaluating the sale or closure of one of its manufacturing sites in Europe, which in turn would lead to an additional job reduction of around 500 posts.
The company currently has a workforce of about 13,400 working across the Americas, Europe and Asia.
Sources
31 January 2013: Market Watch
31 January 2013: Harman (press release)
31 January 2013: Twice
Citation
Eurofound (2013), Harman, Internal restructuring in World, factsheet number 74881, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74881.
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