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 Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture of basic metals
1,800 jobs Number of planned job losses
Announcement Date
21 December 2012
Employment effect (start)
Foreseen end date
Description
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.
Sources
21 December 2012: Klöckner &
21 December 2012: APA
2 January 2013: Wirtschaftwoche
Citation
Eurofound (2012), Klöckner & Co, Internal restructuring in European Union, factsheet number 74722, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74722.
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