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. 28.13 - Manufacture of other pumps and compressors
255 jobs Number of planned job losses
Announcement Date
12 June 2014
Employment effect (start)
1 January 2015
Foreseen end date
31 December 2016
Description
German manufacturer of pumps and mountings KSB announced to cut 255 jobs. As reported the job reduction measure will start in 2015 and is to be implemented by the end of 2016. It will affect the company’s production sites in Frankenthal, Pegnitz and Homburg. According to the sources the weak operational results is the main reason for the measure.
By the end of 2013, KSB employed 5,300 people in Germany. The recently announced job reduction measure is in addition to 250 planned job cuts within 2014.
Sources
12 June 2014: KSB (Press release)
13 June 2014: Nürnberger Zeitung
13 June 2014: Stuttgarter Zeitung
13 June 2014: SHK Tacheles.de
Citation
Eurofound (2014), KSB, Internal restructuring in Germany, factsheet number 77186, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77186.
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