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.
Getrag (manufacturer of gears) Hagenmeyer GmbH & Cie announced during summer 2004 its plan to axe some 600 jobs of the 3800 German staff in the next 4 years. Negotiations between management and the union IG Metall have been going on since then.
On 15 November 2004, it was announced that 282 jobs will be shed during 2005 in Ludwigsburg, Neuenstein, Bad Winsheim and in Untergruppenbach.
On january 2005, Getrag is planning to form a joint venture with the Chinese manufacturer Jiangling Motors Company Group (JMCG). In view of increased production abroad, including plans to develop manufacturing activities in Slovakia, Getrag confirms its plans of reducing its workforce in Germany (600 out of 3,800 jobs by 2008). So far, it has handed out a total of 200 redundancy notices at its Neuenstein and Ludwigsburg sites.
Eurofound (2004), Getrag Hagenmeyer & Cie, Internal restructuring in Germany, factsheet number 60560, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60560.