EMCC European Monitoring Centre on Change

Draka

Company/Organisation:
Draka

Geographic Location

Country: World
Location of affected unit(s): Europe (Eindhoven, Delfzijl), America, Asia

Company

Sector: Manufacturing
Manufacture of electrical equipment
27 - Manufacture of electrical equipment
Number Employed: 8316
Group: Draka Holding

Employment Effects

Announcement Date: 08-08-2002
Planned Job Reductions min: 700
Planned Job Reductions max: 800
Type of Restructuring: Internal restructuring
Foreseen End Date: 01-09-2002

Additional Information

To address the current market situation and restore profitability, Draka announced new cost cuts on 8 August 2002 that will bring about a structural lowering of the level of costs. These plans, which are currently being implemented, will involve the loss of around 700 jobs, or approximately 9% of Draka’s total workforce. The majority of the jobs will be shed in Draka’s Telecommunication Cable & Systems Product Group, with the loss of around 380 jobs or about 20% of the Product Group’s total work force. The remaining 320 jobs will be lost at the Low-Voltage & Special-Purpose Cable Product Group, representing 5% of its total workforce. On 07/03/2003 100 jobs more to be suppressed.