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 Repair And Installation Of Machinery And Equipment Repair And Installation Of Machinery And Equipment 33.2 - Installation of industrial machinery and equipment
387 jobs Number of planned job losses
Announcement Date
10 September 2014
Employment effect (start)
10 September 2014
Foreseen end date
30 June 2015
Description
Koenig & Bauer (KBA), a German producer of printing machines, is to cut 389 jobs at the plants in Frankenthal and Radebeul by mid-2015. In Frankenthal, 207 out of 371 positions will be made redundant according to a press release. 180 of the staff are planned to already leave the company by the end of October and enter a transfer agency starting from 1 January 2015. In Radebeul, 180 of around 1,500 jobs will be cut by mid-2015.
The traditional producer of printing machines suffers from a weak printing market and employs around 6,000 people in total. As part of a cost-cutting plan, KBA had already announced to cut up to 1,800 jobs in Germany and Czech Republic (see FS 2013).
Sources
10 September 2014: Mannheimer Morgen
24 September 2014: kba.com
Citation
Eurofound (2014), Koenig & Bauer (KBA), Internal restructuring in Germany, factsheet number 77573, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77573.
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