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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.11 - Manufacture Of Metal Structures And Parts Of Structures
840 jobs Number of planned job losses
Announcement Date
7 November 2023
Employment effect (start)
7 November 2023
Foreseen end date
Description
On 07 November 2023, the German ironworks and component manufacturer Eisenwerk Hasenclever has filed for insolvency, leading to the loss of 840 jobs.
The company was negatively impacted by the consumer reluctance and delivery problems in the automotive industry. The local court has appointed an insolvency administrator who is now taking stock of the company's situation. The local employment agency has already agreed to pay the "insolvency benefits" to affected employees.
Eisenwerk Hasenclever mainly manufactures components for the automotive industry. The company has been in the region for 250 years.
7 November 2023: Wirtschaftswoche (Online) (www.wiwo.de)
Citation
Eurofound (2023), Eisenwerk Hasenclever, Bankruptcy in Germany, factsheet number 200517, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200517.
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