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.
In December 2024, the company Panasonic Industrial Devices Europe announced that it will cut between 80 to 100 jobs in Lüneburg (Lower Saxony). Employees at its site in Lüneburg are mainly providing research and development activities for electrical cars. As the demand for latter cars is slowing, the company also faces declining revenues figures.
The company CEO is quoted that negotiations with the works council are ongoing but job cuts are unavoidable. The CEO expects to issue dismissal notices in February 2025 when negotiations with the works council are set to be concluded. The length of the dismissal notice period has yet to be agreed upon. As a result, there is currently no final date of employment indicated in the news reporting.
At the site in Lüneburg, around 580 employees are working.
Eurofound (2024), Panasonic Industrial Devices Europe, Internal restructuring in Germany, factsheet number 202205, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202205.