EMCC European Monitoring Centre on Change

ABM Greiffenberger Antriebstechnik GmbH

Company/Organisation:
ABM Greiffenberger Antriebstechnik GmbH

Geographic Location

Country: Germany
Region: Wunsiedel i. Fichtelgebirge; Oberfranken; Bayern
Location of affected unit(s): Marktredwitz

Company

Sector: Manufacturing
Manufacture of machinery and equipment n.e.c.
28.9 - Manufacture of other special-purpose machinery
Number Employed: 1100
Group: Greiffenberger AG

Employment Effects

Announcement Date: 04-05-2016
Planned Job Reductions min: 120
Planned Job Reductions max: 120
Type of Restructuring: Internal restructuring
Employment Effect Start: 04-05-2016

Additional Information

Greiffenberger AG, a family-led industrial holding company, announced plans to cut 120 jobs at its subsidiary ABM Greiffenberger Antriebstechnik GmbH. The jobs cuts form part of an extensive restructuring programme with the aim of the company's cost structure to become more competitive and consolidate its strong position on the global market. Negotiations between the management and the works council have already started. Employees will leave the company via natural fluctuation or partial retirement. Compulsory redundancies are to be avoided. Furthermore, Greiffenberger plans to invest in the business areas mobile drive technology and industry applications to safeguard the production site in Marktredwitz.

Headquartered in Marktredwitz, Greiffenberger AG currently employs 1,100 employees worldwide.