Haba Familygroup is restructuring

As part of the restructuring under self-administration, a procedure similar to Chapter 11 insolvency proceedings in the USA, the company intends to reduce its workforce from 1,677 to around 1,000 employees.

Future Pact 2030

The workforce reduction is part of the new strategic plan "Future Pact 2030", which was presented to the Works Council and employees at the beginning of October 2023. The focus of Haba's new and future-oriented strategy will be on a product range with high-quality toys and games to promote child development.

Fundamental cuts for successful transformation

“In order to position the Haba Family Group for the future and to successfully transform the traditional company towards its 100th anniversary, fundamental cuts that are extremely aching for everyone involved are necessary,” explained general representative Martin Mucha from the Grub Brugger, the law firm guiding HABA through the self-administration process.

Source: www.icv2.com