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.
German building materials company, HeidelbergCement purchased a 45% of Italcementi, a similar company of Italian origins, from Italmobiliare in 2015. While the company plans to focus integration with Italcementi to promote continuity of production, it is also expected that some jobs may be impacted by the merger. The group recognises that an overlap of both production functions and staff exists. Therefore, they are also planning a rationalisation and reorganisation, and it is expected that some staff will be transferred to the Heidelberg facility. By 2020, the company hopes to relocate 170 people to other branches, while 240-260 employees will be laid off. The Bergamo branch will retain approximately 210-250 workers.
Eurofound (2016), HeidelbergCement, Reshoring in Germany, factsheet number 226, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/226.