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.
UPM, a Finnish pulp and paper manufacturer headquartered in Helsinki, has announced the elimination of 135 jobs at its Schongau (Bavaria) site by 30 June 2023. The reason given for the job cuts is the declining demand for graphic paper in recent years. As a result, the annual production capacity is to be reduced. According to the company, the job cuts are to be made through natural fluctuation, if possible, in order to manage with as few redundancies as possible. The capacity adjustment is to take place by the end of June 2023. UPM Schongau employs about 490 people. Worldwide, the company employs 17,200 people in 11 countries.
Eurofound (2023), UPM, Internal restructuring in Germany, factsheet number 108804, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108804.