Kuka

Type
Internal restructuring
Country
Germany
Region
Bayern; Schwaben; Augsburg, Kreisfreie Stadt
Location of affected unit(s)
Augsburg
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.2 - Manufacture of other general-purpose machinery
28.22 - Manufacture of lifting and handling equipment
350 jobs
Number of planned job losses
Job loss
Announcement Date
11 January 2019
Employment effect (start)
11 January 2019
Foreseen end date
1 January 2021

Description

The mechanical engineering company Kuka will be cutting 350 jobs due to internal restructuring until 2021. After Kuka had to reduce its sales forecast for 2018 two times, the job reduction comes as part of a new savings programme intending to spare €300 million until 2021. The current interim CEO is confident that cuts will be similar to previous job reduction programmes, handled in a socially acceptable way. Kuka’s home location in Augsburg will mainly be affected by the job reduction. Currently, the company has approximately 4,000 employees in Augsburg.

Sources

Citation

Eurofound (2019), Kuka, Internal restructuring in Germany, factsheet number 97563, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97563.