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 26 January 2021, the German commercial vehicle manufacturer MAN will be cutting 3,500 jobs in Germany until 2023 due to internal restructuring. The job reduction is part of a major restructuring programme which intends to save €1.7 billion annually. The company plans to focus on electric and hydrogen drives in the future, respecting the climate requirements set by the European Union. Previously, MAN had planned a more severe restructuring including the loss of 7,300 jobs in Germany and cost saving of approximately €1.8 to €2 billion annually. Due to immense resistance by the works council, the restructuring will be less severe than expected. MAN intends to avoid compulsory redundancies.
Currently, MAN has 36,000 employees in Germany.
Eurofound (2021), MAN, Internal restructuring in Germany, factsheet number 103489, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103489.