What's going on at Schoeller Electronics?

Based in Wetter, the company had to report a revenue decline of EUR 10 million for the last fiscal year. The economic downturn has impacted business. This was given as a reason for the layoffs, local media reports. Moreover, rumors about a sale of the company surfaced. Heinz Schütte-Schrage of the IG Metall Mittelhessen believes that the production is to be gradually reduced. So the union agreed - reluctantly he adds - to the social plan proposed. He also believes that a sale of the company is not too far fetched. The fact that the dismissed employees are primarily production workers would indicate that. "The alternative was bankruptcy", he is cited in the article. (Oberhessische Presse)