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.
Krefeld (North Rhine-Westphalia), Ravensburg (Baden-Wurttemberg), Neuwied (Rhineland-Palatinate)
Sector
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.95 - Manufacture of machinery for paper and paperboard production
470 jobs Number of planned job losses
Announcement Date
2 February 2015
Employment effect (start)
2 February 2015
Foreseen end date
30 September 2016
Description
Voith will close several locations and cut 1,600 jobs worldwide, 870 of them in Germany. The company plans to sell its Industrial Services unit. The unit currently employs a total of 18,000 persons which is nearly half of all Voith employees.
The locations of Krefeld in North Rhine-Westphalia and Neuwied in Rhineland-Palatinate will be closed, production in Ravensburg and the steel structure and mechanical production in Heidenheim will be shut down. The measures are to be completed by the end of September 2016. At Krefeld 170 jobs are lost, 50 jobs will be outsourced to other locations. During the last years, Voith already reduced staff numbers at several locations (see FS 2012 and 2014).
UPDATE 09-04-2015: As reported by Handelsblatt, fewer jobs will be cut than announced originally. In Heidenheim, 300 instead of 700 positions will become redundant. At other sites, management and works council are still negotiationg final numbers.
Sources
2 February 2015: Voith Press
3 February 2015: Handelsblatt
2 February 2015: Frankfurter Allegemeine
9 April 2015: Handelsblatt (online)
Citation
Eurofound (2015), Voith, Internal restructuring in Germany, factsheet number 78273, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78273.
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