Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 10 November 2004
Length: 19 pages
Data source: Published sources
Abstract
A large German manufacturer of ball bearings and precision machinery experiences severe financial difficulty brought on by poor management practices, an ill-conceived acquisition of a former East German ball-bearings company, and an industry recession. The company hires a German professional turnaround manager who in past turnarounds of German firms has engaged in 'US-style' corporate downsizing practices including massive layoffs and asset sales.
Location:
Industry:
Size:
USD4 billion revenues, 30,000 employees
Other setting(s):
1992-1993
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Length: 19 pages
About
Abstract
A large German manufacturer of ball bearings and precision machinery experiences severe financial difficulty brought on by poor management practices, an ill-conceived acquisition of a former East German ball-bearings company, and an industry recession. The company hires a German professional turnaround manager who in past turnarounds of German firms has engaged in 'US-style' corporate downsizing practices including massive layoffs and asset sales.
Settings
Location:
Industry:
Size:
USD4 billion revenues, 30,000 employees
Other setting(s):
1992-1993
Related
Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Length: 19 pages