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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.32 - Manufacture of other parts and accessories for motor vehicles
380 - 400 jobs Number of planned job losses
Announcement Date
12 April 2022
Employment effect (start)
12 April 2022
Foreseen end date
1 January 2025
Description
Lear Corporation, a global vehicle supplier headquartered in Southfield, Michigan, USA, announced 380 job cuts at the production plant in Kronach, Germany.
The job losses are caused by the decision of Lear Corporation to discontinue the Audio and Lighting business area worldwide. The job cuts affect positions in the production while 120 development jobs remain at the production plant in Kronach, Germany. The job losses are to be implemented until 2025.
After negotiations with the works council (Betriebsrat) and the union IG Metall, Lear Corporation announced that there will be severance pay, additional social benefits and the possibility of transferring to a transfer company. The works council and IG Metall declared that they are satisfied with this agreement.
Lear Corporation employs over 160,000 employees globally in 257 facilities in 38 countries.
Sources
12 April 2022: BR24 Newsletter (online) (www.br.de)
Eurofound (2022), Lear Corporation, Closure in Germany, factsheet number 106660, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106660.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
