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 2 June 2021, the German copper product manufacturer KME will be cutting 170 jobs at its plant in Osnabrück until 2023 due to internal restructuring. The reductions will affect employees in different working areas such as manufacturing to administration. According to the management, the cuts are inevitable to make the company profitable in the future. The job reductions will be made as socially acceptable as possible and the company will try to avoid compulsory redundancies.
Workers' union IG Metall has criticised KME’s plans and worries that approximately 240 jobs might be affected. The union suggests focusing on innovation and strategic realignment of the company.
KME currently has 950 employees in Osnabrück.
Eurofound (2021), KME, Internal restructuring in Germany, factsheet number 104971, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104971.