Business shuts down in Baden-Württemberg: Tradition company terminates employment of all staff
In a surprising move, Tegometall Lagertechnik GmbH, a traditional plant located in Baden-Württemberg, has announced its closure by the end of September. The company, headquartered in Switzerland, is undergoing a significant reorganisation due to a nearly 60% drop in revenues.
The logistics centre in Sauldorf, Sigmaringen, has been an integral part of Tegometall Lagertechnik GmbH. The closure of this centre is part of the company's restructuring efforts, as it moves to relocate production overseas.
Dr. Arndt Lüdtke, the managing director of Tegometall Lagertechnik GmbH, made the announcement. He has been responsible for the Krauchenwies and Sauldorf sites for nine years. The closure, according to Dr. Lüdtke, is due to a 68% drop in orders, coupled with cost and competitive pressures.
The closure of the plant is causing a shock among the employees, some of whom have been with the company for over 40 years. Terminations have already been distributed this week, and the employees who lost their jobs may struggle to find new employment quickly.
Tegometall Lagertechnik GmbH is making efforts to secure the future of the dismissed employees. However, the closure of the plant is a significant loss for Baden-Württemberg as an industrial location, specifically for logistics. The plant's closure is a significant blow to the region's economy.
The company is moving quickly with the plant's closure. The managing director, Dr. Lüdtke, has stated that the company is doing its best to minimise the impact on the local community.
The news of the plant's closure has been met with sadness and concern. It is a reminder of the challenges faced by traditional industries in the current economic climate. As the company moves forward with its reorganisation, the focus will be on finding new opportunities and ensuring a sustainable future for the business.
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