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 Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17.12 - Manufacture of paper and paperboard
115 jobs Number of planned job losses
Announcement Date
1 June 2016
Employment effect (start)
1 June 2016
Foreseen end date
31 August 2016
Description
Paperboard producer Schuster Karton, headquartered in Herbertshausen, will dismiss 115 employees by the end of August 2016 due to bankruptcy of the company. Continued declines in sales and an increasingly fierce competition caused insolvency. Schuster Karton has been negotiating with several investors, however, none of the potential buyers was prepared to or capable of guaranteeing the continuation of the site and employment of the workforce. However, the Federal Employment Agency is optimistic about the new job placement as the region has one of the best labour market in Germany. Executive board and works council are currently negotiating a social plan including severance payments.
Sources
1 June 2016: Süddeutsche (online)
Citation
Eurofound (2016), Schuster Karton, Bankruptcy in Germany, factsheet number 87721, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87721.
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