EMCC European Monitoring Centre on Change

Oerlikon

Company/Organisation:
Oerlikon

Geographic Location

Country: World

Company

Sector: Manufacturing
Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
Number Employed: 16500
Group: Renova

Employment Effects

Announcement Date: 25-08-2009
Planned Job Reductions min: 2500
Planned Job Reductions max: 2500
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-08-2010

Additional Information

On 25 August, the Oerlikon group announced its plans to cut 2,500 employees worldwide by the end of August 2010. The main shareholder - the Russian group Renova - pushed out the chief executive and launched a cost cutting plan, which envisages the sale of the company's textile and drive systems units.

The Oerlikon group is divided in six business units (textile machines; thin-film coating; production plants for thin-film silicon solar modules; vacuum systems; drive systems; and advanced technology). It has around 16,500 employees worldwide.