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.
On 16 September 2020, the German automotive supplier Mahle announced that it will cut 7,600 jobs worldwide. In Europe, the programme will affect 3,700 positions, including 2,000 jobs in Germany. There is no detailed information how many jobs are at risk on other continents. Mahle is to initiate negotiations with the local trade unions and works councils to implement socially responsible redundancy programmes.
The company is going to implement a cost-saving and restructuring programme due to the COVID-19 pandemic which hit the automotive industry and caused a slowdown in the international markets and a drop in demand for automotive products and services. Mahle’s management does not expect the automotive industry to return to pre-crisis levels for several years. However, despite economic pressures, the company remains focus on technological transformation.
Currently, Mahle employs 77,000 staff in more than 30 countries worldwide. The company specialises in the production of automotive components, including piston systems, cylinders, air and liquid management systems and valvetrains.
Eurofound (2020), Mahle, Internal restructuring in World, factsheet number 102000, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102000.