FAG Kugelfischer : A German Restructuring
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Publication Date:
March 12, 1998
Industry:
Manufacturing
Industry:
Financial Services
Source:
Harvard Business School
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 “U.S.-style” corporate downsizing practices including massive layoffs and asset sales.
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FAG Kugelfischer : A German Restructuring
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