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.
German vehicle manufacturer BMW announced 6,000 job cuts in Germany. The company has agreed on a redundancy programme with the works' council. Redundancies are to be realised by voluntary measures, such as voluntary leaves, natural fluctuation and early retirement. In addition, the company plans to shorten the standard work time from 40 to 38 hours per week. This step became necessary after the demand for BMW's products shrank during the COVID-19 pandemic. Currently, there is no official information about restructuring's timeframe.
The manufacturer stated that it will continue its vocational training programme throughout the next years. In 2021, the company wants to employ 1,200 vocational trainees.
Currently, BMW employs 126,000 workers worldwide.
Eurofound (2020), BMW, Internal restructuring in Germany, factsheet number 101224, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101224.