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. 28.30 - Manufacture of agricultural and forestry machinery
120 jobs Number of planned job losses
Announcement Date
6 November 2014
Employment effect (start)
1 January 2015
Foreseen end date
Description
Fendt, a German manufacturer of tractors, is to cut 120 out of 4,200 jobs.
The management named the strongly decreasing demand as the main reason for the job reduction. The French market, for example, decreased by 25pc last year. Management and the works council are currently negotiating the restructuring plan so that it will be implemented in a socially acceptable manner.
There was no information given on the end date.
UPDATE 2014-12-18: As reported by German daily newspaper Stuttgarter Zeitung, job reduction will start in 2015 due to an employment guarantee until the end of 2014. Job reduction shall be implemented mainly by severance payment, early retirement and a transfer agency.
Sources
18 December 2014: Stuttgarter Zeitung
6 November 2014: Augsburger Allgemeine
Citation
Eurofound (2014), Fendt, Internal restructuring in Germany, factsheet number 77854, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77854.
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