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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
600 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76202.
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