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 26.40 - Manufacture of consumer electronics
180 jobs Number of planned job losses
Announcement Date
11 March 2013
Employment effect (start)
Foreseen end date
1 April 2013
Description
As announced on March 11, 2013, German manufacturer of consumer electronics Loewe will cut 180 jobs by the end of March. This is due to decreasing sales and severe losses.
The company suffers from strengthening competition, especially from Asia. In total, Loewe employs 1,000 people and the job cuts mainly affects the shop floor. Workers made redundant shall be transferred to an interim employment society for one year.
Sources
12 March 2013: Handelsblatt
11 March 2013: Loewe (Press Release)
Citation
Eurofound (2013), Loewe, Internal restructuring in Germany, factsheet number 75049, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75049.
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