Leading global group for corporate communications with € 3b in sales and 9,000 employees ( 3,000 in Germany )
CLIENT CASE Transformation
CHALLENGE
SOLUTION
RESULT
· Market needs not adequately addressed with product portfolio · Falling demand leading to a revenue loss situation · Lack of management presence · High turnover of key employees
goetzpartners provided restructuring support in cooperation with the CEO , CFO , CRO and CHRO . A PMO was established , which initially focused on the business case and ensured sufficient financing for the restructuring activities via owners and banks . Based on benchmarks and bottom-up challenges , various scenarios were simulated . A target scenario was selected with a new location strategy , including reallocations and company formations as necessary for successful implementation .
The headcount had to be drastically reduced , in Germany alone , ~ 1,500 jobs ( 50 %) were to be cut . This was achieved by the closure of sites in more than 30 countries . In Germany , two-thirds of the sites were to be closed . In addition , the costs of the entire workforce had to be considered and , in this context , new rules for dealing with service providers and temporary workers had to be formulated . In the White Book , goetzpartners documented all measures across all functional levels . Based on this , we supported the client in negotiations ( with the employee council ) on the reconciliation of interests and social selections .
In addition , goetzpartners introduced controlling of the number of employees per country and business division as well as location profiles including important KPIs ( e . g ., customer volume , lease situation , function split , average income / age of employees ).
· Total cost savings of € 280m , EBIT increased by more than 275 % · Implementation of the Go-To-Market concept · Restructuring completed on time and within budget · Establishment of a new social structure
© goetzpartners , February 2021