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 19 May 2021 the automotive supplier and developer KDK Automotive GmbH will be closing its plant in Lennestadt by mid-2022 which will result in the loss of approximately 260 jobs. According to management, the closure is inevitable since the plant is only working at 30% capacity. Production will be moved to other European production sites. Negotiations between management and works’ council regarding a social plan are expected to start shortly.
KDK has currently 900 employees at 4 sites in Europe – Lennestadt (GER), Wächtersbach (GER), Tachov (CZE) und Borja (ESP).
Eurofound (2021), KDK Automotive GmbH, Closure in Germany, factsheet number 104799, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104799.