Restructuring events
European Restructuring Monitor (ERM)
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.
On 21 October 2014, German manufacturer of printing machines Manroland announced its plan to cut 250 positions by 2015. According to the company the job reduction is due to a strongly decrease in international demand. Although every third printing machine in the world is produced by Manroland, sales have shrunk considerably for the past years. In 2007, the company sold machines for €2 billion, currently sales stand at €330 million only.
The company had already dismissed 2,200 people after bankruptcy in 2011.
According to the CEO of the company’s investor, demand is not expected to pick up promptly. The company expects a loss of €60 million for this year. Manroland currently employs around 2,200 people.
UPDATE 2014-12-12: As reported by Augsburger Allgemeine Zeitung on 4 December 2014, Manroland will cut 225 instead of 250 jobs. Dismissed employees will receive severance payments and a transfer agency is going to be set up.
Eurofound (2014), Manroland, Internal restructuring in Germany, factsheet number 77731, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77731.