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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
340 jobs Number of planned job losses
Announcement Date
21 June 2005
Employment effect (start)
31 December 2005
Foreseen end date
31 December 2005
Description
Swiss producer of metal parts for the automotive industry Georg Fischer has announced the closure of its factory in Munich. The production is to be relocated to factories in Austria, where efficiency is higher and costs are lower than in Germany. 340 employees are to lose their jobs, the management will enter negotiations with the employees' representatives and work out a redundancy programme.
Sources
22 June 2005: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2005), Georg Fischer, Closure in Germany, factsheet number 61780, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61780.
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