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 German mechanical engineering company Illig has announced plans to cut 200 jobs at its headquarters in Heilbronn.
The reason for the job cuts is a new investor, as the job cuts were the prerequisite for the new investor's entry. Illig filed for insolvency in April 2024, and the reason for this was the drop in customer demand.
The company now wants to cut around 200 jobs. It is still unclear which jobs will be cut, but presumably, all areas will be affected. It is also not yet clear when the measure will be completed. Those made redundant will be compensated via a social plan.
Illig produces thermoforming and packaging systems and mould systems for plastics and cardboard.
Eurofound (2024), Illig, Bankruptcy in Germany, factsheet number 201426, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201426.