EMCC European Monitoring Centre on Change

P+S Werften

Company/Organisation:
P+S Werften

Geographic Location

Country: Germany
Region: Mecklenburg-Vorpommern
Location of affected unit(s): Wolgast, Stralsund

Company

Sector: Manufacturing
Manufacture of transport equipment
30.1 - Building of ships and boats
Number Employed: 2000

Employment Effects

Announcement Date: 22-08-2012
Planned Job Reductions min: 1800
Planned Job Reductions max: 1800
Type of Restructuring: Bankruptcy
Employment Effect Start: 01-09-2012
Direct Dismissals: 1800

Additional Information

German shipbuilder P+S Werften filed for insolvency on 22 August 2012. The bankruptcy affects about 2,000 jobs in Germany at sites in Stralsund and Wolgast. The company faced a decline in demand and cancellations of orders. Management announced the insolvency when talks about further government subsidies finally failed. The company is now looking for an investor. How many employees will lose their jobs in the end is currently uncertain.

UPDATE 18/10/2012: In October 2012, the number of affected workers was corrected down to 1,800 employees, which will be transfered to a transitional company.