Nexans cuts 600 jobs

Nexans cuts 600 jobs

Cable plant in Mönchengladbach-Rheydt affected

The French company Nexans operates several locations in Germany, including Mönchengladbach-Rheydt and Hanover. However, the cable manufacturer plans to cut around 600 jobs. A total of around 100 jobs are to be cut at the factory in Rheydt. A total of 400 people are employed there.
Rheinische Post reported on the planned reduction. The company confirmed the announcement to the newspaper on Thursday. The employees had already been informed, the company continued.

Nexans lacks profitability

But not only will jobs be cut, the strategy of the locations will also be changed. The head office in Hanover is to be relocated to Mönchengladbach. The factory in Hanover is even to be closed completely. Almost 500 employees will be affected, 30 as a result of the move to NRW. The planned reduction of 600 jobs will affect all locations in Germany. In addition to Hanover and Mönchengladbach, these are the factories in Hof and Nuremberg. Bramsche is less affected by the reduction.

The company cited the lack of profitability as the reason for the job cuts. Although the factory in Rheydt is running at full capacity, efficiency is lacking due to high costs and increasing price pressure. At the same time, Nexans is struggling with a fiercely contested market that is dominated by many aggressive competitors and high technical and organizational standards.

Operational terminations not excluded

Rheinische Post also reports that talks with employee representatives and collective bargaining partners are about to begin soon. The company could not rule out dismissals for operational reasons. IG Metall in Mönchengladbach did not understand the measure.

The German subsidiary of the French company Nexans employs around 11,000 people internationally. The restructuring is to take place by the end of 2019.