The large German wood processing company, Ziegler Group, is facing serious financial problems due to the construction crisis in the country. The company has had to lay off over 100 workers due to insolvency. Although part of the operations was saved by transferring 650 workers to the French company Rettenmeier, around 300 employees need to find new jobs as Ziegler Logistik is ceasing operations. The other departments are still in bankruptcy proceedings, and potential investors are considering acquisition, which could lead to further layoffs.
Big German wood company fires workers due to crisis.
