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 Belgian materials group Umicore has announced that it will cut 140 jobs at its site in Hanau, Hesse.
The reason for the job cuts is the transition to electromobility, which requires the Automotive Catalysts business unit to adapt to changing market conditions. The company plans to cut around 140 jobs, or 14 percent of the workforce, at the Hanau site by 2027. These plans include voluntary programmes that have been developed in close cooperation with employee representatives in order to make the job cuts socially responsible.
Hanau is Umicore's largest German site with around 900 employees, where products containing precious and special metals are developed. In Germany, Umicore has over 1,700 employees at five locations and nine business units. Worldwide, Umicore has 1,948 employees at 45 production sites and 14 research and development sites.
Eurofound (2024), Umicore, Internal restructuring in Germany, factsheet number 201337, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201337.