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 10 December 2020, the US automotive supplier Eaton will be closing its valve production plant in Nordhausen which will result in the loss of 250 jobs by the end of 2020. The production will be relocated to Poland. The worker' union IG Metall and works’ council had previously been in constant negotiations to save the plant’s future – unsuccessfully. All employees will now benefit from a generous social plan, which includes high severance payments and a transfer company which will offer employees further training programmes to increase their re-hiring chances on the German job market.
Eaton has 98,000 employees worldwide.
Eurofound (2020), Eaton, Offshoring/Delocalisation in Germany, factsheet number 102916, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102916.