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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.29 - Manufacture of other plastic products
102 jobs Number of planned job losses
Announcement Date
24 August 2016
Employment effect (start)
24 August 2016
Foreseen end date
Description
German manufacture of writing instruments and promotional articles Senator confirmed plans to cut 102 jobs at its site in Groß-Bieberau. In July 2016, the Merz group sold Senator to financial investor Perusa due to its plans of focussing more on pharmaceuticals. The company has been experiencing difficulties in the US market and therefore wants to restructure its business.
Worldwide Senator employs 350 staff. On the site in Groß-Bieberau, 275 people are working. The management is currently negotiating job cuts with the works council. Senator wants to implement staff reductions through natural fluctuation, a social plan, cancellation agreements, and early retirement regulations.
Sources
25 August 2016: echo online
29 August 2016: kunststoffweb.de
Citation
Eurofound (2016), Senator, Internal restructuring in Germany, factsheet number 88403, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88403.
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