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.
Kostal, a German automotive supplier, has announced up to 950 job cuts at its sites in Lüdenscheid, Meinerzhagen and Halvar, Germany.
The job cuts are due to restructuring measures. Production at the German sites in Lüdenscheid (around 650 employees), Meinerzhagen (around 90 employees) and Halver (around 50 employees) is to be phased out by the end of 2024 and relocated to other sites in Eastern Europe. The job cuts will not only affect about 800 jobs in production, but also about 150 jobs in administration. As of July 2022, it is not yet known when the job cuts will begin.
As part of an earlier restructuring measure, 330 jobs have already been cut in Lüdenscheid in 2019 (Kostal2019 - DE).
The Kostal Group employs around 18,000 people worldwide. Of the 18,000 employees, 3,200 are employed in Germany.
Eurofound (2022), Kostal, Offshoring/Delocalisation in Germany, factsheet number 107109, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107109.