Location of affected unit(s):
Europe (Eindhoven, Delfzijl), America, Asia
Manufacture of electrical equipment
27 - Manufacture of electrical equipment
Planned Job Reductions min:
Planned Job Reductions max:
Type of Restructuring:
Foreseen End Date:
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 Drakas total workforce. The majority of the jobs will be shed in Drakas Telecommunication Cable & Systems Product Group, with the loss of around 380 jobs or about 20% of the Product Groups 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.