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.
Automotive supplier Marelli announced it will cut around 250 jobs at its German site in Reutlingen. The manufacturer of front and rear lighting explained its decision as resulting from rising cost pressure partly resulting from the COVID-crisis. The jobs cuts are to be carried out in a socially acceptable manner. The company will initiate a voluntary redundancy programme offering severance payments, an early retirement scheme and will not fill vacant posts. To save on costs, the company additionally announced it would lower weekly working hours from 35 to 30 hours for all employees.
Eurofound (2020), Marelli Automotive Lightning, Internal restructuring in Germany, factsheet number 102051, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102051.