Linde Hydraulics

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Aschaffenburg, Ballenstedt
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28.1 - Manufacture of general-purpose machinery
28.11 - Manufacture of engines and turbines, except aircraft, vehicle and cycle engines
350 jobs
Number of planned job losses
Job loss
Announcement Date
23 October 2014
Employment effect (start)
23 October 2014
Foreseen end date
31 March 2016

Description

Linde Hydraulics, a German manufacturer of hydraulic and electric power engines, is to cut 350 out of 1,400 jobs. As announced on 23 October 2014, the high price pressure and reduced demand for hydraulic products are the main reasons for the job reduction. From this year onwards, the company intends to save €40 million per year.

Jobs will mainly be cut at three plants around Aschaffenburg but also at a plant in Ballenstedt. The reduction will affect employees across all departments. 200 positions shall be cut in the first quarter of 2015 and another 150 will be cut in the beginning of 2016. The reduction shall be implemented by partial retirement and via a transfer agency.

Sources

  • 23 October 2014: main-netz.de

Citation

Eurofound (2014), Linde Hydraulics, Internal restructuring in Germany, factsheet number 77755, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77755.