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 For Transport Equipment Manufacture Of Other Transport Equipment 30.92 - Manufacture of bicycles and invalid carriages
260 jobs Number of planned job losses
Announcement Date
13 February 2017
Employment effect (start)
13 February 2017
Foreseen end date
Description
On 13 February 2017, insolvent German bicycle manufacturer Mitteldeutsche Fahrradwerke (Mifa) announced to cut 260 jobs. Only 250 employees will remain in Sangerhausen, Saxony-Anhalt.
About 210 employees will switch to a transfer agency for further qualification measures. Another 50 staff members already terminated their contracts since the company filled for insolvency at the beginning of January 2017. The company is currently negotiating a social plan with the works’ council.
At the moment, 520 employees are working at the Mitteldeutsche Fahrradwerke.
Sources
14 February 2017: Frankfurter Allgemeine Zeitung (print)
21 February 2017: Die Welt
Citation
Eurofound (2017), Mitteldeutsche Fahhradwerke, Internal restructuring in Germany, factsheet number 90378, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90378.
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