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 German manufacturer of dye for textiles, Dystar, is planning to cut around 800 jobs in Germany until 2007/2008. The company employs 1,800 staff in Germany. The company's sites in Frankfurt and Ludwigshafen will be affected. Around 450 jobs are to be lost in 2005. The job cuts are said to be due to costs and to a shift in the market towards Asia. As a result, DyStar is planning to transfer jobs to Asia. This is the first major measure planned by US investment company Platinum Equity, which acquired DyStar in August. DyStar had been set up as a joint venture by German chemicals groups Hoechst, BASF and Bayer in 1995.
Eurofound (2004), Dystar, Offshoring/Delocalisation in Germany, factsheet number 60809, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60809.