Haba is cutting around 500 jobs

According to Mario Wilhelm, Managing Director of Haba Familiygroup, the crisis-ridden toy and furniture manufacturer is cutting around 500 jobs as part of a reorganization.  Employees are to be offered the opportunity to join a transfer company. The transfer company will run for six months.

Haba filed for insolvency under self-administration in September. These proceedings should be completed by the end of February. As a result, Haba hopes to receive numerous orders from local authorities again as soon as possible, which account for a large proportion of its turnover. In mid-December, the company announced that it would be divesting its production site for children's furniture in Eisleben in Sachsen-Anhalt on January 1 in order to focus on high-quality toys and games to promote child development.

Source: www.indonewyork.com