Singulus Technologies

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
120 jobs
Number of planned job losses
Job loss
Announcement Date
7 February 2005
Employment effect (start)
Foreseen end date

Description

Singulus Technologies, the world's leading manufacturer of machinery for production of optical storage media, has announced a cost-saving scheme of more than €5 million for 2005 after orders intake shrank by 43% in the fourth quarter of 2004. Among other measures, the company plans to shed 120 of its 730 jobs. Singulus blames the collapse in orders on the ‘temporary weakness' of the Asian market.

Sources

  • 7 February 2005: VWD News

Citation

Eurofound (2005), Singulus Technologies, Internal restructuring in Germany, factsheet number 61210, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61210.