EMCC European Monitoring Centre on Change

Klöckner & Co

Company/Organisation:
Klöckner & Co

Geographic Location

Country: European Union
Location of affected unit(s): Czech Republic, Bulgaria, Romania, Poland, Lithuania

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24 - Manufacture of basic metals
Number Employed: 11000

Employment Effects

Announcement Date: 21-12-2012
Planned Job Reductions min: 1800
Planned Job Reductions max: 1800
Type of Restructuring: Internal restructuring

Additional Information

Klöckner & Co, producer and independent distributor of steel and metal products, is currently reducing its staff levels in an attempt to cut costs. As announced previously, the company is planning to reduce capacity by closing operations in 60 of its 270 locations. In total, 1,800 jobs will be affected, an extra 300 jobs compared to previous statements made by the company. 

As part of this restructuring programme, the company is currently selling its entire Eastern European operations, with transactions being completed for the Czech Republic, Bulgaria and Romania and activities in Poland and Lithuania expected to be sold during the first quarter of 2013.

The company currently employs around 11,000 staff and operates in 20 countries.