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.
The US automotive supplier BorgWarner Transmission Systems will close its production facility in Ludwigsburg (Baden-Württemberg) and lay off 266 employees. The decision was justified by the switch to e-mobility. The plant produces glow plugs for diesel engines, but also so-called high-voltage water heaters for e-cars. The share of diesel cars had declined more than expected and the auxiliary heaters were not strong enough in terms of sales. Therefore, production with 266 employees will be discontinued by the end of 2024. The trade union IG-Metall Ludwigsburg will try to negotiate a good severance pay for the affected employees.
In 2013, Borg Warner closed its branch in Ketsch (BorgWarner-2014-DE). BorgWarner is headquartered in Michigan, USA and has around 38,300 employees at 61 production sites worldwide with a turnover of $15.8 billion in 2022.
Eurofound (2023), BorgWarner Ludwigsburg, Closure in Germany, factsheet number 109270, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109270.