This article in the current issue of Berlingske Business contains comments from the union shop steward about the internal mood of employees in Struer.
The stock market has also punished the stock with a 10% decline this week.
"He came with towering ambitions and promises of a new golden age. He brought visionary, pioneering spirit and a shot youthful energy to the national icon Bang & Olufsen. It is now just over two years ago that the then 36-year-old Tue Mantoni was CEO and told him that B & O had the potential to triple sales in five years.
Today, the enthusiasm of the CEO on the decline. The harsh economic realities in European markets and disappointing sales figures put shake off the old radio and TV factory in Struer. An operating loss of 150-200 million. crowns are on the way, and the situation is so critical that CEO Tue Mantoni during an internal public meeting in Struer a few days ago announced new layoffs and a final goodbye to TV production on Danish soil. Another litter production workers facing a pink slip.
CEO failed to submit a stock exchange announcement out about outsourcing of jobs. But the story was intercepted by the local press. Yesterday, Mantoni generate sound and confirmed the information from the internal meeting, which took place almost simultaneously with the B & O's financial statements for 2012-2013 was closed 31 May It is already the second time in 2013 that Mantoni heralds layoffs. In addition, the employees on the floor to the CEO's vision for the future appears more and more like a pipe dream when one compares them with the concrete reality. This causes frustration to grow among the otherwise loyal B & O employees.
"I am incredibly proud of the company and would hate to be alarmist. But I must say that we have recently been disappointed. We had expected, there were more teams in the strategic plans Tue Mantoni presented to us, "said Karsten Grønholdt Hansen, senior shop steward at Bang & Olufsen.
The mood in Struer was exceptionally good, as Mantoni came and convinced employees about the enormous potential he saw in the company. But today the mood is turning.
"If I go out and ask employees for their opinion, there is not exactly pat on Tue and the strategy he pursues. Especially not in the TV department, "said Karsten Grønholdt Hansen.
'It is difficult to maintain faith in the future, because his statements were so massive that time. It created an expectation of revenue of eight to ten billion dollars. There was a huge confidence in him as he stood up and talked about his visions. But as it has in the recent past, it is hard to see for ourselves whether the project will succeed Tue, "says commons trust the man.
For the first time he speaks publicly about a future without Tue Mantoni as CEO of B & O.
"We still have confidence in the management. But if the situation does not return within one or two years, so I do not believe anymore that we have the leadership that we have today, "said Karsten Grønholdt Hansen, who still hope that especially sales to China and Bang & Olufsen sound systems for cars can grow as promised and send new revenue crowns for B & O.
A historic relocation
But B & O has long earned too little to sell the TV and audio equipment for the Europeans. Already in 2006, the B & O to move production of just TV and audio equipment from Struer to own factory in the Czech Republic to reduce costs. Part of the production of new TV should be preserved in Denmark, promised management.
"Management has now changed its position and will no longer produce TV in Denmark. It is a historic decision, "said Karsten Grønholdt Hansen.
About 40 years ago, 3,500 employees at the factories in Struer, Lemvig and washer at B & O. Today there are approximately 1,100 man back, and factories in Lemvig and washer are closed. Thus lost B & O some of his brand value.
"Before the customer bought a product that was produced in Denmark with Danish labor and Danish quality. The part of our story sounds a little hollow today. For such, it's not anymore, "said Karsten Grønholdt Hansen.
Copenhagenry
Employees in Struer is even frustrated that B & O's chief executive has moved key departments for Lyngby in the metropolitan area.
"It is extremely critical that you moved Sales and Marketing for Copenhagen with the expectation of getting a more international dimension of the sales and marketing side. It has not been seen. I have not at all understood the idea of it, except that it provides an additional expense, "said Karsten Grønholdt Hansen.
Employees have as recently as March accepted that no one gets salary increases this year. It is only the third time since 1987 that this has happened.
"We were told that the situation was so difficult that could not be granted salary increases. Neither the Board or elsewhere in the organization, and we accepted, "said Karsten Grønholdt Hansen.
Tue Mantoni stepped in the middle of the financial year 2010-2011, the company achieved a turnover of 2,867 million. dollars and an operating profit of 60 million. crowns. After a downgrade expect B & O for the recently completed fiscal year revenue in the range from 2.800 to 2.900 million. dollars and an operating result of minus 150 to 200 million. crowns."
