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 Canadian-Austrian automotive supplier Magna has announced job cuts in Germany in its powertrain business segment. A total of 162 jobs are to be cut at the Untergruppenbach site (Baden-Württemberg) by the end of 2026.
The company cited a decline in demand, which has led to lower staffing requirements in the manufacture of transmissions, as the reason for the cuts.
Negotiations with the IG Metall trade union on a social plan are ongoing. IG Metall criticises the job cuts and is calling for the reduction to be made in a socially acceptable manner, including through transfer companies, transfers within the region and programmes for partial retirement and early retirement.
In 2023, Magna announced the loss of 250 jobs in Germany Magna 2023 - DE.
Eurofound (2025), Magna, Internal restructuring in Germany, factsheet number 203145, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203145.