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 July 2020, the German MV Werften Group will be cutting approximately 650 jobs at its sites in Rostock, Stralsund and Wismar due to internal restructuring.
IG Metall and management have agreed to a social plan including a transfer company, which all affected employees will transfer to on 1 August 2021. The affected employees will receive 85% of their last net wage until February 2022. If no major contract is secured until the end of 2021, an additional 1,000 employees will transfer to the transfer company on 1 February 2022 for 4 months and on 1 July 2022 the remaining employees for 4 months.
Affected sites for the first reduction are Stralsund with approximately 300 employees, Rostock with approximately 220 employees and Wismar with approximately 110 employees. The job reduction has been vital in securing €300 million in financial support by the Federal Government.
For the previous restructuring event related to MV Werften in Germany, see MV Werften-DE-2017.
Update 02/12/2022
As announced on 2. December 2022, the German MV Werften Group is expected to offer all 650 affected employees, employment at Meyer Werft in Wismar – with a minimum of 400 to be hired. Since the insolvency announcement, the construction of the cruise ship ‘Global Dream’ was stopped and is expected to be resumed after its recent acquisition by the Disney group. IG Metall is pleased as cornerstones of a collective bargaining agreement have been agreed upon, which will guarantee wages on collective bargaining level.
Eurofound (2021), MV Werften, Internal restructuring in Germany, factsheet number 105018, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105018.