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.
Siemens VDO, a supplier of automotive components, will cut 200 jobs. Originally, Siemens VDO had planned to shed 600 jobs and the transferral of production lines to the Czech Republic. Workers' representatives have accepted pay cuts and more flexibility in order to prevent the off-shoring to Ostrava. There shall be no lay offs, the job losses are to be managed ‘sozialverträglich' that is in a socially acceptable way through fluctuation and early retirement.
Eurofound (2005), Siemens VDO, Offshoring/Delocalisation in Germany, factsheet number 61471, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61471.