Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 20 May 2020, the Swiss machine automation company Mikron will cut up to 120 jobs in Germany due to internal restructuring. The job reduction will affect 50 employees at the Rottweil plant as well as 70 positions at the Berlin plant. The Callista Private Equity Group from Munich planed to buy Mikron's plants based in Berlin (Germany) and Kaunas (Lithuania). However, on 17 August 2020, Mikron announced that the transfer process is terminated and that the company will keep its sites. Mikron expects restructuring costs to be approximately CHF 15 million (approximately €14 million) which will lead to a significant negative financial outcome in 2020.
Accodring to Mikron, the COVID-19 crisis has intensified the situation in the automobile industry, making the job reduction necessary.
Eurofound (2020), Mikron, Internal restructuring in Germany, factsheet number 101198, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101198.