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.
Contitech, a German plastics and industrial parts manufacturer, announced the elimination of about 3,000 jobs worldwide as part of its divestiture to Lone Star Funds.
The cuts affect production sites in Germany: Hanover (700 job cuts) and Northeim (240 redundancies), along with additional positions overseas whose locations are not specified. The restructuring is slated for completion by the end of 2026.
The reduction follows Continental’s sale of Contitech, aimed at generating €3.1 billion in cash flows and reducing debt. While the company pledges to preserve jobs abroad, many redundancies will be carried out through voluntary programs, part-time arrangements, transfers and early retirement rather than compulsory dismissals.
Early safeguards were negotiated with the IGBCE union and works councils, blocking forced layoffs until 2030.
The workforce totals more than 20,000 employees before the cuts, including about 7,700 in Germany.
Eurofound (2026), ContiTech, Internal restructuring in World, factsheet number 300863, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300863.
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