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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.22 - Manufacture of lifting and handling equipment
350 jobs Number of planned job losses
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.
Eurofound (2019), Kuka, Internal restructuring in Germany, factsheet number 97563, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97563.
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