Foreign businesses cutting jobs in Germany in 2009

Major companies and investors from abroad are planning to cut 12,500 jobs in Germany this year. This is the finding of a market analysis by the IMWF institute for research on management and the economy in Hamburg. In particular businesses from the US are going to cut jobs in 2009.

The following foreign businesses are set to cut jobs in Germany:

  1. Unicredit, Italy cutting of up to 2500 jobs at HVB
  2. Tedrive Holding, the Netherlands cutting 1500 jobs at Tedrive
  3. Hewlett Packard, USA cut 1150 jobs at EDS Operations Services
  4. NXP Semiconductors, the Netherlands cut 850 workplaces at NXP Semiconductors
  5. Siemens/Fujitsu, Germany/Japan cut 700 jobs at Fujitsu Siemens Computers
  6. Wynnchurch Capital, USA, cutting of about 700 jobs at Henniges-Automotive
  7. Avaya, USA cut 609 jobs at Avaya
  8. Arcelor-Mittal, Luxembourg cut 600 places of work at Arcelor-Mittal
  9. Wabco, Belgium cut 600 jobs at Wabco
  10. DuPont, USA cut 500 jobs
  11. Nokia, Siemens Networks, Finland cut 500 jobs at Nokia Siemens Networks (NSN)
  12. TDK, Japan cut 422 jobs at Epcos
  13. Bâloise, Switzerland cut 300 jobs at Deutscher Ring/Basler Versicherung
  14. Johnson Controls, USA cut 290 jobs
  15. Koninklijke Philips Electronics, the Netherlands cut 250 jobs at Philips Healthcare Deutschland
  16. Hewlett Packard, USA cut 250 jobs at Hewlett Packard Germany
  17. OC Oerlikon Corporation, Switzerland cut 240 jobs at Oerlikon Schlafhorst
  18. Ford, USA cut 200 jobs in Germany
  19. AB Volvo, Sweden cut 155 places of work at Volvo Construction Equipment
  20. eBay, USA cut 100 jobs at eBay Germany
  21. Motorola, USA cut 100 jobs
  22. HestaTex, Switzerland dismantling of jobs within the high two digit range at Schiesser

In the course of the above study the IMWF analysed media reports from the period from August to December 2008. GERMAN