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.
Magna Powertrain, located in Lannach, district of Deutschlandsberg, Styria, has announced a restructuring plan involving the reduction of 200 positions due to the loss of key contracts, including the bankruptcy of Fisker.
The company reported the layoffs to the Public Employment Service (AMS), and affected staff were informed accordingly. AMS Styria confirmed that the majority of impacted employees are highly qualified and may find new opportunities quickly.
A labor foundation has been established to support further training where needed. Regional stakeholders, including political parties, have urged proactive measures to reduce dependency on the automotive sector and explore future-oriented industries.
Eurofound (2025), Magna Powertrain, Internal restructuring in Austria, factsheet number 202802, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202802.