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. 28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
135 jobs Number of planned job losses
Announcement Date
27 February 2013
Employment effect (start)
31 March 2013
Foreseen end date
31 March 2014
Description
The company ZF Wind Power, manufacturer of parts for wind mills, announced its intention to reduce its workforce by 15 percent, which will imply 135 job cuts.
According to the management, the restructuring has become necessary as there is an overcapacity in the market and a threat to its general competitiveness.
Sources
27 February 2013: demorgen
28 February 2013: 7sur7
Citation
Eurofound (2013), ZF Wind Power, Internal restructuring in Belgium, factsheet number 75025, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75025.
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