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, Printing And Reproduction Of Recorded Media Printing And Reproduction Of Recorded Media 18.12 - Other printing
125 jobs Number of planned job losses
Announcement Date
10 April 2013
Employment effect (start)
10 April 2013
Foreseen end date
31 October 2014
Description
Giesecke & Devrient (G&D), a Germany-based multinational technology (banknote and security printing) provider, is to cut 125 jobs in Munich. The job cuts will affect its mobile security division and are part of a larger restructuring resulting in 400 job cuts across Europe (G&D-EU2013). As reported in the media the restructuring plan will be implemented within 18 months and is attributed to the need to reduce costs by 60 million Euro per year. In total, G&D employs 10,554 people worldwide.
Sources
11 April 2013: Handelsblatt
10 April 2013: Giesecke & Devrient (Press Release)
Citation
Eurofound (2013), Giesecke & Devrient, Internal restructuring in Germany, factsheet number 75246, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75246.
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