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
200 - 500 jobs Number of planned job losses
Announcement Date
7 December 2016
Employment effect (start)
7 December 2016
Foreseen end date
Description
On 7 December 2016, crane manufacture Terex confirmed a restructuring programme which includes job cuts. Reports from different newspapers vary in the numbers of job cuts. According to the daily Rheinpfalz, Terex announced to reduce their workforce at Zweibrücken by about 30%. Around 1,650 employees are currently working in Zweibrücken.
Other sources report that the restructuring plan also includes the closure of the Terex's site in Blieskastel-Bierbach where 200 staff are working at the moment. The company allegedly wants to sell the site as well as the machinery. However, the company announced to offer part of the affected staff members other jobs within the company. The administration department will also be affected by the job cuts.
Spokesman of the German Metalworkers’ Union assumes that up to 500 job cuts will be taking place. The crane manufacturer has been struggling with low sales figures due to the reduction of the oil price and decreasing investments for plant constructions.Already in March 2016, Terex announced to cut up to 160 in Germany (Terex MHPS, 2016).
Sources
7 December 2016: welt.de
7 December 2016: SWR.DE
8 December 2016: Die Rheinpfalz (online)
Citation
Eurofound (2016), Terex, Internal restructuring in Germany, factsheet number 89391, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89391.
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