Lenzing

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Austria (Lenzing), China, Indonesia
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13 - Manufacture of textiles
13 - Manufacture of textiles
600 jobs
Number of planned job losses
Job loss
Announcement Date
14 November 2013
Employment effect (start)
1 January 2014
Foreseen end date
31 December 2015

Description

Austrian-based textile fibers and plastics manufacturer Lenzing group is to cut approximately 600 jobs by 2015.

As announced, the cost-saving restructuring plan will be implemented via means of natural attrition and job cuts.

According to media reports, the group plans to cut 300 out of 2,600 jobs in Austria and another 210 jobs in China and Indonesia. More detailed information on where exactly the job cuts will be carried out, has yet to be announced.

Lenzing group employs around 6,500 staff worldwide.

Sources

  • 14 November 2013: ORF
  • 14 November 2013: Lenzing (press release)
  • 15 November 2013: Just Style
  • 14 November 2013: Bloomberg

Citation

Eurofound (2013), Lenzing, Internal restructuring in World, factsheet number 76202, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76202.