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.
German battery company Varta, headquartered in Ellwangen, Baden-Württemberg, has announced 390 job cuts at its Ellwangen, Nördlingen and Dischingen sites. As part of the restructuring, Varta will initially cut around 240 jobs at all three German sites in Ellwangen, Nördlingen and Dischingen by the end of 2023, with a further 150 jobs to be relocated to VARTA AG's international sites in 2024.
The job cuts will take place in all divisions of the company and are part of a restructuring concept which, according to the company, is caused by massive price increases for energy and raw materials as well as dampened consumer mood due to the Corona crisis.
The VARTA AG Group currently employs almost 4,800 people worldwide. With five production and manufacturing sites in Europe and Asia, as well as distribution centres in Asia, Europe and the USA, VARTA AG's operating subsidiaries are currently active in over 75 countries worldwide.
Eurofound (2023), Varta, Internal restructuring in Germany, factsheet number 109163, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109163.