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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35 - Electricity, gas, steam and air conditioning supply
200 jobs Number of planned job losses
Announcement Date
23 November 2015
Employment effect (start)
23 November 2015
Foreseen end date
31 December 2018
Description
On 23 November 2015, Vaillant, the second largest company in the heating, ventilation and air conditioning sector in Europe, announced its plans to close its plant in Gelsenkirchen. The closure will involve 200 dismissals and will be affected by the end of 2018. According to the company these job cuts have become necessary due to internal restructuring with the company trying to save costs and relocate its production to the company's headquarters in Remscheid where Vaillant plans to invest more resources in R&D.
The Vaillant Group currently employs around 12,000 employees worldwide.
Sources
23 November 2015: IWR - News
Citation
Eurofound (2015), Vaillant, Internal restructuring in Germany, factsheet number 86089, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86089.
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