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.
ABL, a German company specialised in electric mobility, has announced a total of 255 job cuts at its headquarters in Lauf an der Pegnitz.
The reason for the job cuts is an insolvency procedure under the company's own responsibility. This had become necessary because the market for charging stations for electric vehicles is oversaturated and because government subsidies for charging stations have decreased. As announced on 28 August 2023, the company is cutting 155 jobs for which a redundancy and social plan has been negotiated. In addition, 100 employees are leaving the company either at their own request or due to expiring employment contracts. In the future, ABL will employ around 300 people.
The independent family business ABL produces wallboxes and charging columns for private, semi-public and public use.
Eurofound (2023), ABL, Internal restructuring in Germany, factsheet number 200266, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200266.