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 24 September 2020, the automotive parts supplier, Faurecia, will be cutting 140 jobs at its plant in Augsburg due to internal restructuring. The restructuring should result in activities focusing mainly on sustainability, digitalisation, automation and carbon neutrality. The job reduction is no surprise to Faurecia’s works’ council. Faurecia has been hit hard by the COVID-19 crisis and most employees have been on short-time work since March. As of today, there is no information on a timeframe for the job reduction available. However, the works’ council emphasised that although cuts are necessary to secure the company’s future, there should be a socially acceptable solution for each of the affected employees. The talks between the company management, the works' council and the union have already started.
Currently, Faurecia has 1,400 employees in Augsburg.
Eurofound (2020), Faurecia, Internal restructuring in Germany, factsheet number 102008, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102008.